Liz Claiborne Q2 result out, posts 8.7 % growth

27 Jul '05

14 min read

Women's and men's fashion apparel marketer Liz Claiborne Inc announced diluted earnings per share ("EPS") of $0.50 for the second quarter 2005, an increase of 8.7 percent, compared to diluted EPS of $0.46 for the second quarter 2004. Net sales for the second quarter 2005 were a record $1.1 billion, up 7.1 percent over the comparable 2004 period.

The Company will sponsor a conference call today at 10:00 am EDT to discuss its second quarter 2005 results. This call will be webcast to the general public and can be accessed via the Investor Relations section of the Liz Claiborne website at http://www.lizclaiborneinc.com. An archive of the webcast will be available through Wednesday, August 10, 2005.

Paul R. Charron, Chairman and Chief Executive Officer, stated: "They are pleased to report these very strong second quarter results which once again were driven by the strength of their balanced and diversified portfolio and disciplined execution of their core strategies. Their ability to successfully execute their multi-brand, multi-channel, multi-geography diversification strategy enabled us to achieve record sales and EPS which exceeded the upper end of their forecasted range.

During the quarter, they returned $105 million of capital to their shareholders through the repurchase of approximately 2.8 million shares of their stock. Our ongoing focus on cash flow management continues to reap benefits, as they have generated $424 million in cash from operations over the past 12 months, providing us with the financial flexibility to continue to execute their strategies."

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