Liz Claiborne (LIZ) Misses Wall Street Expectations
Liz Claiborne, Inc. (NYSE: LIZ) on Tuesday reported a 4th quarter loss of $41.7 million, or 45 cents per share, an improvement on last year's loss of $828.9 million, or $8.85 per share.
Liz Claiborne's sales fell to $778.8 million, down from $911.2 million a year earlier.
The company said its 4th quarter loss would have been 18 cents a share, excluding items.
A FactSet Research survey of analysts showed an average expected loss of 15 cents per share.
Liz Claiborne also announced that it will receive a $167 million tax refund that will be used to pay down debt.
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