Posted Date: 7/27/2010
Liz Claiborne to Close Its 87 Branded Stores
The Liz Claiborne brands will live on at JC Penney and QVC, but the company's 87 Liz Claiborne branded stores in the U.S. and Puerto Rico will be history by early next year. The plan is expected to end operating losses from these brick-and-mortar locations.
Liz Claiborne will take a $7 million charge in its second quarter and expects additional charges for severance and lease terminations. Outlets for the company's Juicy Couture, Lucky Brand, Kate Spade and Kensie brands won't be affected by this decision, according to the company.
"A number of factors precipitated this decision," said William McComb, CEO of Liz Claiborne, Inc. "Our current fleet of Liz Claiborne branded outlets was originally designed to handle clearance for many brands in our portfolio--an outdated consumer proposition and one that no longer makes economic sense, given the vast changes we have made to our portfolio and business strategy over the past three years."
Next month, the company will launch its Liz Claiborne brand to JC Penney and its Liz Claiborne New York brand to QVC.
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Top 10 Takeaways from the 2012 Store Systems Study
1/25/2012 2:00:00 PM (EST)
Moderator:
Joe Skorupa, Group Editor-in-Chief, RIS News
Panelists:
>>Lee Holman, Lead Retail Analyst,IHL Group
>>Charlie McCarter, Regional Sales Director, SMB Retail Solutions, Dell Inc
>>Barry Wise, Industry Consultant, Epson America, Inc.
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Leveraging WFM Analytics to Improve Labor Optimization
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