LIZ - Liz Claiborne, Inc. (NYSE STOCK) - Stock Market Forum, Penny Stocks, FOREX, NASDAQ, AMEX, NYSE, Live Chat

thegreatgate · #1 06-18-2009, 07:35 PM

Today's close: $2.98
Today's volume: 17.14 million (8x average)
Average volume: 2.15 million
Market Cap: $283.34 million buckaroos
Q2 Earnings Report: August 12, 2009
% Owned by Institutions: 89.80%
52-week high/low: $20.14 / $1.46
Last time above $5: June 11, 2009
Last time above $10: October 2008
Last time above $40: April 2007
After hours activity: By 6:30pm 140,800 shares were traded between $2.98 and $3.01.

LINK TO WEBSITE

About Liz Claiborne:
Liz Claiborne, incorporated in January 1976, designs and markets a global portfolio of retail-based brands, including JUICY COUTURE, KATE SPADE, LUCKY BRAND JEANS and MEXX. It also have a group of department store-based brands with strong consumer franchises, including the LIZ CLAIBORNE and MONET families of brands, MAC & JAC, KENSIE and DANA BUCHMAN and the licensed DKNY JEANS, DKNY ACTIVE and DKNY MENS brands. The three segments of the Company are Domestic-Based Direct Brands segment, International-Based Direct Brands segment and Partnered Brands segment. On January 17, 2008, the Company entered into a license agreement with Kohl’s Corporation (Kohl’s), naming Kohl’s as the exclusive retailer of its DANA BUCHMAN brand. In April 2008, the Company completed the sale of substantially all of the assets and liabilities of the Ellen Tracy brand.

Reason for the drop: Claiborne forecasts deeper loss; shares tank

NEW YORK, June 18 (Reuters) - Women's apparel manufacturer and retailer Liz Claiborne Inc on Thursday projected a wider second-quarter loss than analysts forecast and its shares plummeted nearly 26 percent. The owner of the Lucky Brand, Kate Spade and Juicy Couture brands said in a regulatory filing it expects a wider loss in the current second quarter than in the first quarter, before one-time items. The company gave no reason why the loss would widen. The forecast came a day after the apparel company said it planned to launch an offer for $75 million in convertible debt. The news also weighed on the stock, since the offering could ultimately dilute the shares, said Standard & Poor's equity analyst Marie Driscoll. "It is just a reflection of what a difficult environment this is," Driscoll said. "While they have very nice brands, it's going to be difficult this year." Liz Claiborne and other apparel companies have faced a tough climate during the recession as department stores and other chains trim inventory and shoppers cut back nonessential purchases. The company said it expected sales to be flat compared with the year-earlier quarter. Citigroup analyst Kate McShane expects fundamentals for the company's wholesale and retail brands to remain "highly challenging" for the rest of 2009. "We expect significant comp (same-store sales) declines and continued balance sheet uncertainty to keep the stock trading in a tight range over the next 12 months," McShane said. Last week, Liz Claiborne Chief Executive William McComb said the company was revamping operations to perform well in the "new normal" cautious environment. That includes having celebrity designer Isaac Mizrahi breathe new life into its namesake Liz Claiborne line. Driscoll applauded the new line, but cautioned that it is no quick fix. "On the merchandise front, while we think the new Isaac Mizrahi Liz Claiborne line is super at Macy's Herald Square, we expect weak regional assortments for another six months," Driscoll said. Liz Claiborne reported a loss of 37 cents a share, excluding one-time items, in the first quarter. Analysts, on average, forecast a second-quarter loss of 33 cents a share, according to Reuters Estimates. The company said "there is still some uncertainty regarding the results for the quarter," which ends on July 4. It cautioned investors to take that uncertainty into account. A spokeswoman said the second-quarter adjusted loss forecast was being driven by the impact of certain items and the company would discuss details during its conference call in August. Lower restructuring costs will lead the company's reported loss to be narrower than the first quarter, the company said, echoing a forecast it issued a month ago. Liz Claiborne shares, which had gained about 55 percent this year through Wednesday's close, closed down $1.04 at $2.98 on the New York Stock Exchange. (Reporting by Martinne Geller in New York, and Brad Dorfman and Jessica Wohl in Chicago; Editing by Brian Moss, Andre Grenon and Richard Chang)

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thegreatgate · #2 06-18-2009, 11:06 PM

Liz Claiborne Prices $90 Mln Of Convertible Senior Notes
6/18/2009 9:51 PM ET
(RTTNews) - Thursday, Liz Claiborne, Inc. (LIZ: News ) announced the pricing of $90 million principal amount of 6% convertible senior notes due 2014. Such amount includes $15 million principal amount of notes issued pursuant to an over-allotment option, which was exercised in full, to the initial purchasers. The conversion rate will initially be 279.6421 shares of the Company's common stock per $1,000 principal amount of notes, equivalent to an initial conversion price of about $3.576 per share. The initial conversion price represents a conversion premium of 20% over the last reported price on June 18 of $2.98 per share. Holders of the notes may convert their notes at their option under certain circumstances. Upon conversion, the Company will deliver cash, shares of the Company's common stock, or a combination of cash and shares, at the option of the Company. The Company anticipates closing the offering of the notes on June 24. The Company intends to use the net proceeds from the offering to temporarily pay down a portion of the outstanding borrowings under its amended credit facility.

**Volatile22** · #3 06-19-2009, 12:58 AM

Quote:

Originally Posted by thegreatgate

Liz Claiborne Prices $90 Mln Of Convertible Senior Notes
6/18/2009 9:51 PM ET
(RTTNews) - Thursday, Liz Claiborne, Inc. (LIZ: News ) announced the pricing of $90 million principal amount of 6% convertible senior notes due 2014. Such amount includes $15 million principal amount of notes issued pursuant to an over-allotment option, which was exercised in full, to the initial purchasers. The conversion rate will initially be 279.6421 shares of the Company's common stock per $1,000 principal amount of notes, equivalent to an initial conversion price of about $3.576 per share. The initial conversion price represents a conversion premium of 20% over the last reported price on June 18 of $2.98 per share. Holders of the notes may convert their notes at their option under certain circumstances. Upon conversion, the Company will deliver cash, shares of the Company's common stock, or a combination of cash and shares, at the option of the Company. The Company anticipates closing the offering of the notes on June 24. The Company intends to use the net proceeds from the offering to temporarily pay down a portion of the outstanding borrowings under its amended credit facility.

That would do it. Thanks for the news.

thegreatgate · #4 10-08-2009, 03:03 PM

Up an astounding 28% today. Last trade $6.68!!

News:

Elmec Sports S.A. Signs New Distribution Agreement With Liz Claiborne, Inc. Subsidiary
9:51am EDT

Elmec Sports S.A. announced that it has signed a retail license and distribution agreement with Juicy Couture Europe Ltd, a subsidiary of Liz Claiborne, Inc. Purpose of this agreement is the retailing of all Juicy Couture collections including apparel, accessories, footwear, children wear, intimates and jewelry in Greece, Romania and Bulgaria through stand-alone stores and corners plus wholesale through selected specialty stores. The contract is valid up to December 31, 2014, with a renewal option for another three years. Business plan consists in the opening of 10 points of sale over a three years period in the three aforementioned countries. Wholesale operation will commence with the spring 2010 season. Financial terms of the agreement were not disclosed.

Liz Claiborne Inc. Unveils Major New Distribution Strategy for Liz Claiborne Brand Franchise With J.C. Penney
8:15am EDT

Liz Claiborne Inc. announced a steps to further the revitalization of the Liz Claiborne brand franchise and to significantly alter its earnings trajectory. To accomplish this, the Company has entered into a long term licensing agreement with J. C. Penney, under which JCPenney will become the exclusive department store destination for all Liz Claiborne and Claiborne branded merchandise in the United States and Puerto Rico. The other important element of this strategy is moving the distribution of the Liz Claiborne New York brand designed by Isaac Mizrahi to QVC. As a result of these agreements, the Company expects the Liz Claiborne wholesale brand franchise to swing from a meaningful adjusted operating loss in 2009 to a targeted adjusted operating profit in 2010.