UPDATE 4-Liz Claiborne outlook grim; shares sink

Wed Mar 4, 2009 5:02pm GMT
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* Q4 adj loss 4 cts/shr; Wall St expected loss 9 cts/shr

* Gives no '09 EPS forecast; Sees "meaningful loss" in Q1

* Sees same-store sales down 15-25 pct through Q3

* Shares down 10.6 pct (Adds comments from conference call, analyst)

By Martinne Geller

NEW YORK, March 4 (Reuters) - Fashion company Liz Claiborne Inc (LIZ.N: Quote, Profile, Research) warned on Wednesday that it will post a "meaningful loss" in the current quarter as it sees no improvement soon for retail sales, sending its shares down nearly 11 percent.

The owner of the Juicy Couture, Kate Spade, Lucky Brand and Mexx labels also said it would not provide a 2009 earnings outlook, due to "the highly uncertain environment."

To combat the recession, Liz is cutting 8 percent of its U.S. workforce, reducing its retail expansion plans and offering more clothing and accessories at lower prices.

The company is also rolling out a revamped version of its namesake brand designed by Isaac Mizrahi that it hopes will revive the brand's sales at department stores.  Continued...

 
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