Liz Claiborne in exclusive deal with J.C. Penney

Liz Claiborne said Thursday that its namesake line of clothing will be sold exclusively at J.C. Penney Co., as part of a 10-year deal that the apparel maker hopes will help reverse its fortunes.

Under the licensing agreement, Penney will be the sole U.S. department store to sell the company's iconic lines of women's wear, along with its Liz & Co. and Concepts by Claiborne brands. The deal also includes accessories, shoes, household products and men's clothing.

In other news, the company will sell its Liz Claiborne New York brand, designed by Isaac Mizrahi, to TV shopping channel QVC.

Liz Claiborne, which has said it expects to post a 2009 operating loss, said Thursday that it expects an operating profit in 2010 because of the agreement.

An expanded line of Claiborne-branded items will be available at J.C. Penney next fall.