(Reuters) - NEW YORK, July 31 - Clothing company Liz Claiborne Inc. said on Tuesday that quarterly profit fell 65 percent, hurt by charges from its restructuring plan and weak sales of its wholesale brands.
The company, which is exploring options for 16 clothing brands while boosting investments in four others, said second-quarter net income fell to $13.6 million, or 13 cents per share, from $39.4 million, or 38 cents per share, a year earlier. Excluding items, profit was 26 cents per share for Liz Claiborne, whose namesake designer died last month after battling cancer.
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The company, which is exploring options for 16 clothing brands while boosting investments in four others, said second-quarter net income fell to $13.6 million, or 13 cents per share, from $39.4 million, or 38 cents per share, a year earlier. Excluding items, profit was 26 cents per share for Liz Claiborne, whose namesake designer died last month after battling cancer.
Read more at Reuters.com Market News
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