Liz Claiborne (LIZ) Shares Plummet as Company Cuts Outlook

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Liz Claiborne Inc. (NYSE: LIZ) announces preliminary Q410 direct-to-consumer comparable sales.

• Juicy Couture - 1%
  
  
• kate spade - 44%
  
  
• Lucky Brand - (10%0
  
  
• Mexx Europe - (7%)
  
  
• Mexx Canada - 4%.

Chief Executive Officer of Liz Claiborne Inc., William L. McComb, said, "We are providing an update to our previous outlook which called for an $80 million increase in adjusted operating income in the second half of 2010 compared to 2009: we now expect adjusted operating loss for the fourth quarter to improve by $0 to $10 million versus a year ago, and as a result, a second half increase in adjusted operating income in the range of $40 to $50 million."

Shares of the company plunged on the news, and are currently down 22%

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