Just in case some of you like Liz Claiborn, there is some bad news and big trouble ahead for them. The retail giant Liz Claiborne published their fourth-quarter reports and released numbers that reported a 828.9 million dollars net loss. This net lost was increased sharply as the retailer took $693 million in write-downs and its revenue fell 22%. Chief Executive Officer of Claiborne, 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.
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