USA: Liz Claiborne To Close Own-Brand Stores, Q4 Earnings Rise
Women's apparel maker Liz Claiborne Inc is to close of all 22 of its domestic specialty retail stores currently operating under the Liz Claiborne brand name. The company said on Thursday that five of these stores will be converted to either a Mexx or Sigrid Olsen format and that it will take a restructuring charge in the fourth quarter of 2002 of $4.5 million, or 4 cents per share, associated with the closures.
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