Jan 14 Fashion company Fifth & Pacific
reported weaker-than-expected fourth-quarter sales for its Juicy
Couture business and said fixes for the struggling label will
not come until late this year at the earliest, sending its
shares down 6.5 percent in premarket trade.
For the quarter, which included the critical holiday
shopping season, same-store sales rose 27 percent at kate spade
and 3 percent at Lucky Brand, the company said on Monday.
Same-store sales fell 2 percent at Juicy Couture, according to
The company, formerly known as Liz Claiborne Inc, said it
expects earnings before interest, taxes, depreciation and
amortization of $63 million to $68 million for the fourth
quarter and $100 million to $105 million for the full year,
which it said is at the low end of its forecast.
For 2013, the company forecast EBITDA of $120 million to
$150 million, and same-store sales growth at a low teens
percentage rate for kate spade and mid- to high-single-digit
rate for Lucky Brand. For Juicy Couture, it said same-store
sales should be flat to slightly negative.
Fifth & Pacific shares fell to $12.01 in premarket trade
from their close on Friday at $12.84 on the New York Stock