Aug 8 Fifth & Pacific Cos Inc on Tuesday
reported lower-than-expected second-quarter results as its Juicy
Couture urban fashion brand continued to languish.
Fifth & Pacific reported sales of $382 million for the
quarter ended June 29, while Wall Street expected $392.7
million, according to Thomson Reuters I/B/E/S.
Sales of Juicy Couture fell 10.7 percent, even as Fifth &
Pacific Chief Executive William McComb said the brand was
"nearing a turning point." At Lucky Brand, sales fell 2 percent.
The big bright spot again was the higher-end kate spade
handbags and accessories brand. Sales soared 65.3 percent in the
Sources have told Reuters Fifth & Pacific is shopping Lucky
and Juicy and hired investment banks Centerview Partners and
Perella Weinberg earlier this year.
While McComb didn't directly address a potential sale of any
business, he said in a statement the company is looking for "the
best path forward with our brand portfolio to maximize
The company reported the net quarterly loss narrowed to
$43.1 million, or 36 cents per share, from $52.1 million, or 48
cents a year earlier. The adjusted loss from continuing
operations was 12 cents per share, worse than the 10 cents