Liz Claiborne sees healthy growth in direct to consumer biz
30 Jul '11
4 min read
"For fiscal 2012, we continue to forecast adjusted EBITDA,excluding foreign currency transaction gains or losses, in the range of $180 to $220 million. This 2012 outlook assumes global Mexx at a minimum breakeven adjusted EBITDA and remains achievable in our view despite uncertainty in the global markets and the impact on the consumer which makes visibility into 2012 more challenging."
Mr. McComb concluded, "We were pleased overall with direct to consumer comparable sales results in the second quarter. kate spade posted exceptional results once again, as the brand team continues to drive profitable growth across the entire business. Lucky Brand saw a continuation of the strong momentum that began in the first quarter, as they are experiencing great consumer response to their assortments. At Juicy Couture, we look forward to exciting changes in design, merchandising, visual presentation and marketing in the coming quarters and we are encouraged by the meaningful international growth opportunities for this brand."
"At Mexx Europe, the wholesale business continues to see healthy growth while in the direct to consumer channel, we continue our efforts on improving profitability through improved full-price selling and the closure of unprofitable stores. In Partnered Brands, we remain on track to generate positive adjusted operating income for the year, where the strong performance of the Liz Claiborne brand license at JCPenney continues."
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