Liz Claiborne gonna be bankrupt? Owned by RUSH/Virginia Newbon?
LIBERATOR
http://www.lizclaiborne.com/brand/get_fit
The way I Figure it is by the website, and simply that it's about to
be bankrupt, muhwahahaha!
All take hail to RUSH abusing the NSA for their private lives and
inability to get along in society, they have to own society secretly
to be okay. That has to be stopped and Dick Strong is stopping it!
Just their attitude that they're better than everyone else, BUT THEN,
the murders, the mass murder, using HAARP to create the tsunami.
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http://online.wsj.com/article/SB123616643310328463.html
Claiborne Loss Swells on Write-Down Article
By KAREN TALLEY
Liz Claiborne Inc.'s fourth-quarter net loss widened sharply as the
retailer took $693 million in write-downs and its revenue fell 22%.
Chief Executive William McComb called the quarter "the most
challenging environment the company has experienced in decades."
The fashion company posted a net loss of $828.9 million, or $8.85 a
share, compared with a loss of $435.7 million, or $4.55 a share, a
year earlier, when results also included write-downs. Excluding those
and other items, Liz Claiborne would have posted a loss of four cents
a share, compared with earnings of 20 cents a share a year earlier.
Revenue declined to $911.2 million, falling short of Wall Street
expectations.
Liz Claiborne shares fell 11%, or 32 cents, to $2.50 in 4 p.m. New
York Stock Exchange composite trading Wednesday.
The company has gone through wrenching changes in the past couple of
years, and is trying to refocus its apparel brands amid the downturn.
The rollout of a new Isaac Mizrahi-designed line is seen as a key to
restoring the company's fortunes and reputation. During a conference
call with analysts, Mr. McComb said the early response has been
positive.
Like many other retailers, Liz Claiborne said it wouldn't provide an
earnings outlook for the full year because of economic uncertainties.
Lucky, one of Claiborne's core brands, is tweaking its product mix by
increasing the numbers of tops it offers.
The company warned that it expects to post a "meaningful" first-
quarter loss. The loss is forecast to narrow each quarter afterward.
Analysts expect a nine-cent loss for the first quarter. The company
projects same-store sales declines of 15% to 25% through the third
quarter for all of its brands.
The company ended the fourth quarter with $25 million in cash, down
from $205 million a year ago. Debt totaled $744 million, below the
range it projected in November. Inventory was reduced 14% compared
with a year earlier. Capital-raising avenues include sales of real
estate and sale-leasebacks of certain properties, company executives
said.
More than half of the $683 million noncash write-down stems from the
company's market capitalization falling below its book value during
the quarter. The rest relates to declining performance of business
segments, cash flows and a trademark-impairment charge.
The company plans to open just 12 stores this year, compared with 139
in 2008, part of a "ruthless" cost-management drive this year, Mr.
McComb said.
Liz Claiborne is also tinkering with its brands. Kate Spade is further
expanding its jewelry. The Lucky brand -- known for jeans -- is
increasing tops as a percentage of total assortment.
Luuk
"LIBERATOR" <jgch...@yahoo.com> schreef in bericht
news:77b4a03b-3c07-40d3...@q9g2000yqc.googlegroups.com...
>I think this might be owned by RUSH & VIrginia Newbon.
rest of the blah blah snipped
Can someone please give this guy a job so we don't have to read his idiotic
braintwists here day in, day out?!