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Liz Claiborne swings to profit on sale of brands
NEW YORK -- Liz Claiborne Inc. swung to a fourth-quarter profit, buoyed by gains from sales of certain brands and trademarks, including the sale of its namesake brand to JCPenney. But the company's total revenue came in well below expectations, hurt by the faltering performance of its Juicy Couture division.
Liz Claiborne, which is being renamed Fifth & Pacific Cos. as it focuses on its Juicy Couture, Kate Spade and Lucky Brand brands, earned $229.2 million in the quarter ended Dec. 31, compared with a loss of $30.1 million in the same period last year.
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Shopko and Pamida complete merger, Pamida stores to be converted
Green Bay Wis. -- General merchandise retailers Shopko Stores and Pamida announced Thursday the completion of their previously announced merger that will create a $3 billion company that serves largely rural communities in 22 states.
The combined entity will retain the Shopko name. Shopko will be headquartered in Green Bay and Pamida’s corporate headquarters in Omaha, Neb., will be consolidated into the Green Bay office over the next several months.