USA: Liz Claiborne Q4 EPS Up 13.6% On Successful Strategy
Apparel giant Liz Claiborne Inc's "multi-brand, multi-channel, multi-geography diversification strategy" has boosted its fourth-quarter performance, the company said Wednesday.
Earnings per share were up 13.6 per cent to $0.75 for the fourth quarter of 2004, compared to EPS of $0.66 in the same quarter in 2003.
Fourth-quarter net sales increased 16.1 per cent to a record $1.198 billion.
Full-year EPS rose 11 per cent to $2.85 in 2004, while net sales increased 9.2 per cent to a record $4.633bn.
Paul Charron, chairman and chief executive officer, said the good results were a result of the company's "balanced and diversified portfolio."
He added that the implementation of its "multi-brand, multi-channel, multi-geography diversification strategy" led to higher-than-expected sales and the upper end of its EPS expectations, despite a challenging trading environment.
The company in January purchased women and children's apparel maker C&C California for $28m. Liz Claiborne expects the transaction to add 3 cents to fiscal 2005 earnings per share.
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