Fifth & Pacific narrows Q2 loss

New York -- Fifth and Pacific Cos. reported Thursday that it narrowed its loss in the second quarter to $52.1 million, compared with a loss of $89.9 million in the same period last year. Results, which beat Wall Street expectations, were boosted by strong sales from the Kate Spade and Lucky Brand banners.



The company that was formerly known as Liz Claiborne Inc. saw net sales fall 6.5% to $336.9 million in the quarter, which still beat analysts’ forecasted $330.8 million.



Lucky Brand sales rose 15% to $112 million and Kate Spade sales jumped 48% to $101 million. But Juicy Couture sales fell 10% to $105 million.



The company sold the Liz Claiborne brand to J.C. Penney Co. last November and officially changed its name to Fifth & Pacific in May.