Struggling clothier Liz Claiborne, Inc. (NYSE: LIZ) stepped into the earnings spotlight early this morning, and the stock is down sharply as investors react to a wider-than-forecast quarterly loss.

LIZ confessed to a first-quarter adjusted loss of 37 cents per share, or 97 cents per share on a GAAP basis. Analysts were expecting a much narrower loss of 22 cents per share. Sales for the period slipped nearly 29% to $779.7 million, falling well short of Wall Street's consensus estimate for revenue of $880.8 million.

Continue reading Liz Claiborne plunges sharply on unexpectedly wide 1Q loss

Liz Claiborne plunges sharply on unexpectedly wide 1Q loss originally appeared on BloggingStocks on Wed, 13 May 2009 11:00:00 EST. Please see our terms for use of feeds.

Continue reading Ann Taylor's awful earnings miss means stock is a sell

Ann Taylor's awful earnings miss means stock is a sell originally appeared on BloggingStocks on Fri, 06 Mar 2009 15:00:00 EST. Please see our terms for use of feeds.

Liz Claiborne cuts 725 jobs: Turnaround on the horizon? originally appeared on BloggingStocks on Tue, 03 Feb 2009 13:15:00 EST. Please see our terms for use of feeds.

Liz Claiborne CEO flies coach; shareholders fly cargo originally appeared on BloggingStocks on Tue, 30 Dec 2008 14:45:00 EST. Please see our terms for use of feeds.

Continue reading Liz Claiborne (LIZ) drops like a rock

Liz Claiborne (LIZ) drops like a rock originally appeared on BloggingStocks on Wed, 15 Oct 2008 13:40:00 EST. Please see our terms for use of feeds.

Liz Claiborne poised for Mizrahi-led revival originally appeared on BloggingStocks on Fri, 22 Aug 2008 16:30:00 EST. Please see our terms for use of feeds.

Liz Claiborne sells Ellen Tracy for up to $42 million originally appeared on BloggingStocks on Thu, 14 Feb 2008 10:10:00 EST. Please see our terms for use of feeds.

It's been awhile since shareholders of Liz Claiborne (NYSE: LIZ) have had any good news. In the past year, the company's stock has declined from north of $45 per share to Monday's closing price of $16.40: the lowest the stock has traded since 1998.

If anyone can save the struggling fashion house, it's the man they just signed to be creative director of the company's flagship brand: Isaac Mizrahi. You can be sure he didn't come cheap, but he's just what they need. After all, this is the guy who actually managed to make Target (NYSE: TGT) a cool place to shop for clothes.

Liz Claiborne has a lot of potential. In the press release announcing the signing, Mizrahi himself summed it up best: "Liz Claiborne is an American fashion icon. Her clothes were not only beautiful, not only smart, they were revolutionary. She invented separates, and invented an entirely new category in the department store. She made fashion friendly and accessible and in doing so she became every woman's best friend. These are all ideas I treasure and I'm honored to have the opportunity to build on this fantastic legacy and excited to reestablish the label as a must-have." (emphasis mine)

There are no sure things in fashion, but at a discount to its book value and a low price/earnings multiple, you have to like the chances of a Mizrahi-led Liz Claiborne line delivering value to shareholders for the first time in a long time.

Liz Claiborne signs a legend: Isaac Mizrahi originally appeared on BloggingStocks on Wed, 16 Jan 2008 09:18:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• In a move to capitalize on its Hollywood franchise, JP Morgan Chase & Co (NYSE: JPM) is expected to announce plans today to invest $200M of its own money into the entertainment industry, the Wall Street Journal reported.
• The WSJ also reported that while stocks like Countrywide Financial Corporation (NYSE: CFC) may face big discounts to book value, signs of the turmoil in the credit market are beginning to appear elsewhere causing analysts to remain cautious on jumping back in to banking stocks.

• With the recent news of a 3-for-1 share proposal for Rio Tinto Plc (NYSE: RTP) by BHP Billiton Limited (NYSE: BHP), rumors have been flying of another potential merger between Anglo American Plc (NASDAQ: AAUK) and Xstrata, the Guardian reported.

• Fortune has learned that Liz Claiborne Inc (NYSE: LIZ) has received at least two final round bids for nine of its apparel brands, but the outcome is in doubt as some of the potential suitors dropped out.

Newspaper wrap-up: JP Morgan goes Hollywood? originally appeared on BloggingStocks on Mon, 03 Dec 2007 08:51:00 EST. Please see our terms for use of feeds.

Liz Claiborne (NYSE: LIZ) reported lower earnings today as sales continued to be weak and the company took several restructuring charges. However the results were slightly above guidance, and on the conference call, CEO Ellen Tracy said the company had been contacted by "dozens of parties" interesting in acquiring brands from the company. The stock traded up modestly in after-hours trading.

Adjusted diluted EPS for the second quarter 2007 were $0.26 compared to adjusted diluted EPS of $0.45 for the second quarter of 2006. The adjustments reflect the restructuring charges. Sales increased just 0.5% year over year.

A piece in today's New York Times looked at some of the challenges the company faces relating to its falling out with Macy's. Liz Claiborne hopes to continue to move away from department store sales and establish a stronger single-brand retail presence, which would have higher margins.

But the transition, even if it is successful, may be painful for shareholders in the interim.

Zac Bissonnette is a partner and writer for Hedge Funnies, a satirical take on the financial markets.

Liz Claiborne earnings: Struggles to get its groove back originally appeared on BloggingStocks on Tue, 31 Jul 2007 19:00:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Thanks to a downturn in sales, sportswear maker Liz Claiborne Inc (NYSE: LIZ) will seek to divest itself of 16 of its 36 apparel brands, equal to about $800 million of its $5 nillion in annual revenue, reported the Wall Street Journal (subscription required)
• The Financial Times (subscription required) reported that Dell Inc (NASDAQ: DELL) has listened to customer concerns and has moved to eliminate "trialware" from a range of small business laptops and desktops computers.

• British mining company Rio Tinto plc (NYSE: RTP) is believed to be preparing a $34 billion, or $90 per share, takeover bid for Canadian aluminum company Alcan Inc (NYSE: AL), reported the U.K. Times.
• According to the Economic Times, FedEx Corporation (NYSE: FDX) has failed in its attempt to buy out Indian logistics company SafeExpress.
• The Chicago Tribune reported that the U.S. faces an "increased risk" of a terror attack this summer, according to U.S. Homeland Security Secretary Michael Chertoff.

Newspaper wrap-up 7-11-07: Dell to eliminate trialware in some new computers originally appeared on BloggingStocks on Wed, 11 Jul 2007 09:15:00 EST. Please see our terms for use of feeds.

Liz Claiborne (NYSE: LIZ) will sell 16 of its 36 brands in a move that will cut [subscription required] about $800 million of the company's $5 billion revenue.

The move is very risky. The company believes that by moving out of brands that have modest profits it can focus more on its core brands. A difficult environment in department-store sales is behind the company's thinking for focusing on a fewer number of product lines.

To get around problems with slow department-store sales, the company will also open 300 of its own outlets by 2010.

The Wall Street Journal, however, points out that the brands Liz will cut are not necessarily the slowest growing brands. The company has not said whether they are less profitable than the ones to be retained or not.

That is why the strategy may make little sense. Having a larger number of brands would appear to give the company more leverage at the retail level.

Well, perhaps the management knows something Wall Street does not know. Earnings over the next couple of quarters will bear watching.

Douglas A. McIntyre is a partner at 24/7 Wall St.

Liz Claiborne's big cuts originally appeared on BloggingStocks on Wed, 11 Jul 2007 07:08:00 EST. Please see our terms for use of feeds.

Liz Clairborne Inc (NYSE: LIZ) was mentioned in Barron's "Weekday Trader" as a stock to look at. However, be careful jumping into this retailer, with the one caveat being that private equity could scoop up the company.

Barron's cited insider buying and the upcoming analyst day as reasons that could spur investor interest, which are good reasons. Also, Liz's stock now sells for $38.45, down 28% from the $46.60 high posted earlier in the year.

However, one has to question the hiring of William McComb, a long-time Johnson & Johnson (NYSE: JNJ) executive, to become head of one of the most influential fashion companies in New York. McComb replaces Paul Carron, a well-respect executive within fashion circles. Also, another former top executive from Liz, Trudy Sullivan, took the CEO spot at Talbots.

Investors should check out the analyst day before jumping into this stock. If the management presentation is all about pruning brands and lowering costs, I'd run to the hills. Fashion at the end of the day is about new products. No new products and customers leave the store with empty bags.

Be careful chasing retailer Liz Claiborne originally appeared on BloggingStocks on Mon, 09 Jul 2007 12:06:00 EST. Please see our terms for use of feeds.

• Hitachi Ltd (NYSE: HIT) Strategic Storage Announcement conference call at 8am.
• Aircastle Limited (NYSE: AYR) to report Q1 earnings; conference call at 11am.
• Another Vioxx trial starts for Merck and Co Inc (NYSE: MRK) in Texas.

• Motorola Inc (NYSE: MOT) mobile experience at 10am.
• Yamana Gold Inc (NYSE: AUY) to report Q1 earnings; conference call at 11am.

• Southwest Airlines (NYSE: LUV) shareholder meeting at 11am.
• Hewlett-Packard Company (NYSE: HPQ) to report Q2 earnings; conference call at 5pm.

• JC Penney Company Co Inc (NYSE: JCP) to report Q1 earnings; conference call at 9:30am.
• Liz Claiborne Inc (NYSE: LIZ) annual shareholder meeting at 10am.
• Biogen Idec (NASDAQ: BIIB) research and development day at 8:30am.

• British Airways (NYSE: BAB) to report preliminary Q4 earnings; conference call at 9am.
• Federated Department Stores Inc (NYSE: FD) shareholder meeting at 11am.

Market highlights for next week: Another Vioxx trial begins for Merck originally appeared on BloggingStocks on Fri, 11 May 2007 15:50:00 EST. Please see our terms for use of feeds.

Cramer gets even more bullish on Crocs originally appeared on BloggingStocks on Fri, 04 May 2007 16:48:00 EST. Please see our terms for use of feeds.

Stock screeners are tools that let investors filter through a large number of stocks according to chosen criteria. While helping investors pick stocks and narrow down options, it is important to remember that a stock screener is just a tool and every investment should be analyzed on its own merits to make sure it fits with your personal portfolio and risk characteristics. This is my weekly column that finds interesting investment opportunities with the help of our Stock Screener.

Continue reading Stock Screener: Liz Claiborne's restructuring in progress

Stock Screener: Liz Claiborne's restructuring in progress originally appeared on BloggingStocks on Mon, 16 Apr 2007 17:44:00 EST. Please see our terms for use of feeds.

Stock screeners are tools that let investors filter through a large number of stocks according to chosen criteria. While helping investors pick stocks and narrow down options, it is important to remember that a stock screener is just a tool and every investment should be analyzed on its own merits to make sure it fits with your personal portfolio and risk characteristics. This is my weekly column that finds interesting investment opportunities with the help of our Stock Screener.

Continue reading Stock Screener: Jones Apparel's brands too mature?

Stock Screener: Jones Apparel's brands too mature? originally appeared on BloggingStocks on Thu, 12 Apr 2007 12:58:00 EST. Please see our terms for use of feeds.