They just can’t catch a break!
After suffering a $90 million loss last year, Liz Clairborne is having to close 87 of their branded outlet stores in the US and Puerto Rico.
The company’s CEO said of their decision:
“Our current fleet of Liz Claiborne branded outlet stores was originally designed and leased to handle clearance for many brands in our portfolio ├óΓé¼ΓÇ¥ an outdated consumer proposition and one that no longer makes economic sense, given the vast changes we have made to portfolio and business strategy over the past three years.”
Liz Clairborne is hoping to make up for all their losses by launching at JC Penney and QVC.
Good luck. You all are going to need it!
[Image via AP Images.]
Jul 21, 2010 12:30pm PDT
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