Liz Claiborne anticipates 3Q loss

NEW YORK Liz Claiborne announced that it expects to report a third quarter net loss of 8 cents to 14 cents diluted per share, compared to diluted earnings per share from continuing operations of 33 cents for the third quarter of 2007. The company is confirming its adjusted diluted EPS from continuing operations range for the third quarter of 2008 of 37 cents to 42 cents compared to adjusted diluted EPS from continuing operations of $0.60 for the third quarter of 2007. Net sales from continuing operations for the third quarter of 2008 were approximately $1.015 billion, a decrease of 15.9% from the comparable 2007 period.

Adjusted diluted EPS for the full year 2008 are currently estimated to be in the range of $1.00 to $1.10 compared to previous adjusted diluted EPS guidance of $1.40 to $1.50.

William McComb, ceo of Liz Claiborne, said, "Consumer confidence has clearly been impacted in a way we hadn't seen earlier this year. While we have built very solid holiday plans, with strong opening price points and high impact assortments, we are lowering our guidance significantly for the fourth quarter, assuming the cutback in discretionary spending we are seeing right now will last throughout the holiday season, resulting in sales and profitability significantly below our prior expectations."