Fifth & Pacific Cos Inc on Tuesday reported lower-than-expected second-quarter results as its Juicy Couture urban fashion brand continued to languish. Fifth & Pacific reported sales of $382 million for the quarter ended June 29, while Wall Street expected $392.7 million, according to Thomson Reuters I/B/E/S.Sales of Juicy Couture fell 10.7 percent, even as Fifth & Pacific Chief Executive William McComb said the brand was "nearing a turning point." At Lucky Brand, sales fell 2 percent.The big bright spot again was the higher-end kate spade handbags and accessories brand. Sales soared 65.3 percent in the quarter.Sources have told Reuters Fifth & Pacific is shopping Lucky and Juicy and hired investment banks Centerview Partners and Perella Weinberg earlier this year.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.68% or $0.23/share to $34.30. In the past year, the shares have traded as low as $26.71 and as high as $36.04. On average, 992622 shares of TRI exchange hands on a given day and today's volume is recorded at 13506.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.42% or $0.15/share to $35.65. In the past year, the shares have traded as low as $26.65 and as high as $36.98. On average, 1010770 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 7367.
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