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Fifth & Pacific sells Lucky Brand Jeans; will focus on Kate Spade
New York -- Fifth & Pacific Companies will sell its Lucky Brand Jeans division to an affiliate of Leonard Green & Partners for $225 million as it focuses on its fast-growing Kate Spade brand.
"We believe that by focusing all of our resources on the huge opportunity at Kate Spade, we can deliver the strongest value creation opportunity for our shareholders,” said William L. McComb, CEO of Fifth & Pacific (formerly known as Liz Claiborne). “This is all about bringing Kate Spade to its full potential.”
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Burlington Coat Factory shrinks net loss
Burlington, N.J. – Burlington Coat Factory shrunk its net loss to $7.4 million from $16.8 million during the third quarter of fiscal 2013, compared to the same period a year earlier.
The retailer also increased net sales 10% to $1.06 billion, from $967.9 million.
Burlington said the net sales increase was primarily attributable to a $53.2 million increase in sales related to new stores and stores previously opened that are not included in same-store sales, and a $37 million, or 3.9%, increase in same-store sales.