Home / Knowledge / News / Apparel/Garments / Juicy Couture showing very encouraging sales trends, Liz
Juicy Couture showing very encouraging sales trends, Liz
01
Mar '12
Liz Claiborne Inc announced earnings for the fourth quarter of 2011. For the fourth quarter of 2011 on a GAAP basis, income from continuing operations was $245 million, or $2.04 per diluted share, compared to income from continuing operations of $14 million, or $0.13 per diluted share, for the fourth quarter of 2010.

Income from continuing operations in the fourth quarter of 2011 was driven primarily by a $271 million gain on the sales of: (i) the global trademark rights for the Liz Claiborne family of brands; (ii) the trademark rights in the US and Puerto Rico for Monet; and (iii) the Dana Buchman trademark.

Adjusted earnings per share from continuing operations for the fourth quarter was $0.10, compared to adjusted earnings per share from continuing operations of $0.14 for the fourth quarter of 2010 (inclusive of unrealized foreign currency gains of $0.04 per share in the fourth quarter of 2011 and $0.08 per share in the fourth quarter of 2010).

Pro-forma adjusted EBITDA for the fourth quarter of 2011 was $56 million, compared to $44 million for the fourth quarter of 2010 (excluding unrealized foreign currency gains of $7 million in the fourth quarter of 2011 and $14 million in the fourth quarter of 2010). Net sales for the fourth quarter were $447 million, a decrease of $12 million, or 2.6%, from the comparable 2010 period. Pro-forma adjusted net sales, excluding the impact of net sales associated with brands that have been sold or exited but not accounted for as discontinued operations, increased 11.5% compared to the fourth quarter of 2010.

For the full year of 2011, the Company recorded income from continuing operations of $145 million, or $1.28 per share, compared to a loss from continuing operations for the full year of 2010 of ($99) million, or ($1.05) per share. Adjusted loss per share from continuing operations in the full year of 2011 was ($0.32) compared to an adjusted loss per share from continuing operations of ($0.07) in the full year of 2010 (inclusive of unrealized foreign currency gains (losses) of ($0.02) per share in the full year of 2011 and $0.16 per share in the full year of 2010, respectively).

Net sales for the full year of 2011 were $1.519 billion, a decrease of $105 million, or 6.4%, from the comparable 2010 period. Pro-forma adjusted net sales, excluding the impact of net sales associated with brands that have been sold or exited but not accounted for as discontinued operations, increased 11.2% compared to the full year of 2010.

William L. McComb, Chief Executive Officer of Liz Claiborne Inc., said: "Pro-forma adjusted EBITDA, excluding foreign currency transaction gains or losses, of $56 million in the fourth quarter and $82 million for the full year 2011, were in line with our recently-provided outlook. We ended the year with net debt of $266, in line with our previously forecasted range of $265 to $270 million."

"We have continued to strengthen our balance sheet, utilizing cash on hand to purchase 140 million euro of our 5% Euro Notes since November, leaving us with 81.5 million Euro Notes outstanding today, which mature in July 2013. For fiscal 2012, we continue to forecast adjusted EBITDA, excluding foreign currency transaction gains or losses, in the range of $125 to $140 million."

Must ReadView All

Courtesy: Reliance Industries

Textiles | On 24th Apr 2017

Reliance’s FY17 revenue from petrochemicals up 12.2%

Increase in prices across polymers and polyester chain has...

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

GST reflects 'One nation, One aspiration' spirit: Modi

Prime Minister Narendra Modi has said that the Goods and Services Tax ...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search