USA: Liz Claiborne Expects 14-15 Per Cent Increase For 2000
Liz Claiborne Inc said today that it expects fourth quarter 2000 sales to rise by around 11 per cent, resulting in an approximate 10 - 11 per cent sales increase for the full year. The company also expects to achieve fourth quarter and full-year 2000 EPS of around 14 - 15 per cent increase for the year. All EPS figures refer to diluted earnings per share before restructuring charges and special investment gains. The company also announced it will record a pretax restructuring charge of approximately $15-17m in the fourth quarter to cover the mostly cash costs associated with staff reductions, real estate consolidations and asset writedowns.
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