Fifth & Pacific news and archive

Fifth & Pacific 2013 net sales soar 21.2 percent

REPORT_ Fifth & Pacific Companies announced results for the fourth quarter of and fiscal year 2013. Net sales for the full year of 2013 were 1.265 billion dollars, an increase of 222 million dollars, or 21.2 percent, from the comparable 2012 period. For the fourth quarter of 2013 on a GAAP basis, income from continuing operations, which includes...

Design

Fifth & Pacific completes sale of Lucky Brand Jeans

Fifth & Pacific Companies has completed the sale of Lucky Brand Dungarees to an affiliate of Leonard Green & Partners for total consideration of 225 million dollars, with 140 million dollars in cash at closing and the remaining 85 million dollars financed in the form of a three year, secured, seller note, subject to certain capital adjustments....

Design

Fifth & Pacific Companies Inc. names successor for William McComb CEO

William L. McComb, the Chairman and Chief Executive Officer at Fifth & Pacific Companies Inc. is set to step down from his position after seven years. He is to be replaced by Craig Leavitt, who is currently the Chief Executive Officer at the company's owned brand Kate Spade. McComb joined the company in 2006, when it was known as Liz Claiborne...

Design

Fifth & Pacific Q4 sales up 30 percent

REPORT_ Fifth & Pacific Companies has announced preliminary fourth quarter 2013 direct to consumer comparable sales and preliminary full year 2013 results. During the fourth quarter, Kate Spade performed in line with expectations overall, delivering direct to consumer comparable sales growth of 30 percent. Lucky Brand also had a strong quarter,...

Design

Fifth & Pacific sells Lucky Brand to Leonard Green

Fifth & Pacific Companies has entered into a definitive agreement to sell Lucky Brand Jeans to an affiliate of Leonard Green & Partners. Fifth & Pacific Companies will enter into a Transition Services Agreement (TSA) with Lucky Brand Jeans in order to support the transferred business while the new owner creates a standalone infrastructure. The...

Design

Fifth & Pacific Q3 net sales up 18.1 percent

REPORT_ Fifth & Pacific net sales for the third quarter of 2013 showed a 18.1 percent increase from the comparable 2012 period. Net sales for the first nine months of 2013 showed a 16.3 percent rise from the comparable 2012 period. Gross profit as a percentage of net sales increased to 56.5 percent in the third quarter of 2013 compared to 55.7...

Fashion

Authentic Brands Group acquires Juicy Couture

Juicy Couture’s parent company Fifth & Pacific, which also owns Kate Spade, has sold the label for 195 million dollars to Authentic Brands Group. The acquisition, which has been months in the making, had a number of bidders interested including IDG, who dropped out in August, and there were also rumours that Juicy Couture’s founders Pamela...

Design

Kate Spade Saturday wins trademark dispute

Fifth & Pacific-owned brand Kate Spade has won a trademark dispute relating to its Kate Spade Saturday brand name and logo against apparel and accessories retailer Saturdays Surf NYC. According to legal documents, Saturdays Surf NYC stated that the due to Kate Spade’s high profile name that consumers would believe that its brand was licensed by...

Design

Fifth & Pacific reports 6.5 percent drop in Q2 net sales

Fifth & Pacific announced its earnings for the second quarter of 2012. For the second quarter of 2012 on a GAAP basis, loss from continuing operations was 50 million dollars, or 0.46 dollars per share, compared to a loss from continuing operations of 54 million dollars, or 0.57 dollars per share, for the second quarter of 2011. Adjusted EBITDA...

Fashion

Kate Spade New York continues international expansion

Fifth & Pacific, the holding company of Kate Spade New York, has announced that it intends to buy a 51 per cent stake in Kate Spade Japan from its joint venture partner, Sanei International as the apparel label focuses on international expansion. The move is part of a robust international expansion, which includes recent store openings in the...

Design

Liz Claiborne officially becomes Fifth & Pacific

Liz Clairborne Inc., the holding company to fashion and lifestyle brands Juicy Couture, Kate Spade and Lucky Brand, has officially changing its name to Fifth & Pacific Companies. As of this week, Fifth & Pacific Companies will trade on the New York Stock Exchange under the ticker symbol ‘FNP’, as part of a move announced earlier this year to...

Fashion

Liz Claiborne Inc. to become Fifth & Pacific Companies

Liz Clairborne Inc., the holding company to fashion and lifestyle brands Juicy Couture, Kate Spade and Lucky Brand, has announced that it is changing its name to Fifth & Pacific Companies. The name change is to reflect the sale of the Liz Claiborne namesake brand to JC Penney, among other recent transactions, and also to 'better communicate its...