ARGUS Reiterates a 'Sell' on Liz Claiborne (LIZ); Lowers 2009 Estimates
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ARGUS reiterates a 'Sell' rating on Liz Claiborne Inc. (NYSE: LIZ).
ARGUS analyst says, "The company is cutting costs and working to reduce debt and improve cash flow. However, fourth-quarter sales were weak, and according to management, department stores continue to hold high levels of holiday clearance items. We expect this challenging retail environment to continue and believe that it will mean weak sales, earnings and cash flow in the near term. While LIZ shares are trading at multiyear lows and appear undervalued, we believe that the risk-reward balance remains unfavorable."
To see more analyst ratings on LIZ Click Here.
Liz Claiborne, Inc. designs and markets a global portfolio of retail-based brands, including KATE SPADE, JUICY COUTURE, LUCKY BRAND JEANS and MEXX.
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