Liz Claiborne Gets Name Change (LIZ, JCP, KSS)
Clothes maker Liz Claiborne Inc. (NYSE: LIZ) sold its namesake brand, among other things, to J.C. Penney Co. (NYSE: JCP) last October for about $328 million. Other brands were sold to Kohl’s Corp. (NYSE: KSS) and a privately held financial…
Clothes maker Liz Claiborne Inc. (NYSE: LIZ) sold its namesake brand, among other things, to J.C. Penney Co. (NYSE: JCP) last October for about $328 million. Other brands were sold to Kohl’s Corp. (NYSE: KSS) and a privately held financial services company.
The clothes maker will now rename the company as Fifth & Pacific Cos. and change the company’s stock symbol to “FNP”. The change will take effect about mid-May.
Claiborne had piled up debt and was hit hard by the jump in cotton prices last year, forcing it to sell its Liz Claiborne, Monet, Kenzie, and Dana Buchman brands, while retaining Juicy Couture, kate spade, and Lucky Brand.
Contact [email protected] for any questions or corrections.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
