Liz Claiborne, Inc.

New York, NY United States

  (NYSE: LIZ)

Company Description

Liz Claiborne, a department store mainstay long accustomed to dressing middle-class women for success, is cleaning out its closet. The women's and men's apparel and accessories firm is selling its namesake Liz Claiborne family of brands, among others, to focus on its more upscale kate spade, Juicy Couture, and Lucky brands. The move follows plummeting sales as a result of the downturn in the economy, declining department store sales, and changing consumer tastes. The company's clothing is sold in department stores and in about 480 specialty stores and 215 outlets worldwide. The company plans to change its name to Fifth & Pacific Companies in May 2012 to reflect its change in focus.