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News Breaks
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November 4, 2009
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| 11:39 EDT |  | LIZ |
| theflyonthewall.com: | Liz Claiborne sees Q4 sales down 10%-15% | | On the Q3 earnings conference call, Liz Claiborne (LIZ) CEO Bill McCOmb said the company is seeing flat to positive comps on U.S.-based direct brands. He said Juicy posted a (4%) comp in September, and October comps were +1%, while Lucky September comps were (26%) and +1% in October. Kate Spade saw comps up 14% in September and October. McComb said he sees Q4 sales down 10%-15% vs. Q408 and gross margin is expected to be up approximately 400 basis points vs. Q309. McComb also said it is clear that inventories are light "to bordering on too light." He said he feels "a little less melancholy about what Q4 could have brought." CFO Andy Warren said the company expects that sequential improvement in operating performance should continue going forward. :theflyonthewall.com |
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