Liz Claiborne reports loss Q1

Apparel supplier Liz Claiborne Inc for the first quarter of 2012 reported loss

from continuing operations about $52 million on a GAAP basis. For the same period of the first quarter of 2011 the loss from continuing operations was $53 million. Net sales for the first quarter of 2012 were $317 million, a decrease of $14 million, or 4.1%, from the comparable 2011 period.

The gross profit as a percentage of net sales was 56.5% in the first quarter of 2012, compared to 53.3% in the comparable 2011 period. Net loss in the first quarter of 2012 was $61 million, inclusive of losses related to discontinued operations of $9 million, compared to a net loss of $96 million, inclusive of losses related to discontinued operations of $43 million, in the first quarter of 2011. Loss per share was $0.60 in the first quarter of 2012 compared to a loss per share of $1.02 in the first quarter of 2011.

Informing about the adjusted loss per share from continuing operations for the first quarter of 2012 was $0.22 million, compared to adjusted loss per share from continuing operations of $0.32 million for the first quarter of 2011 (inclusive of unrealized foreign currency losses of ($0.01) per share in the first quarter of 2012 and ($0.14) per share in the first quarter of 2011).

The company’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first quarter of 2012 was $1 million, while comparable adjusted EBITDA was $4 million for the first quarter of 2011 (excluding unrealized foreign currency losses of $2 million in the first quarter of 2012 and $21 million in the first quarter of 2011).

Liz Claiborne, based in New York, designs and markets a portfolio of retail-based, premium, global lifestyle brands including Juicy Couture, kate spade, and Lucky Brand. The company also has licenses for the Liz Claiborne New York brand, available at QVC and Lizwear, which is distributed through the club store channel.