Retailers, consumers and prices
Isaac Mizrahi, the ebullient fashion designer tapped by Liz Claiborne Inc to resuscitate its namesake sportswear line, seems to have worked his magic again, according to early analyst and retailer reviews.
The designer, who starred in the 1995 movie “Unzipped” and started the cheap chic trend favored by his former employer Target Corp, was named creative director of the Liz Claiborne brand in January and his first collection for the brand will hit stores in the Spring.
While most reporters are still in the dark, analysts and retailers have seen the line and have given it the thumbs-up.
Credit Suisse analyst Omar Saad, who attended last week’s analyst preview of the Spring 2009 Liz Claiborne line, wrote in a research note on Monday that it exceeded his generally high expectations. It also increases the likelihood of a successful turnaround in that struggling brand, whose sales are now roughly half what they were at their peak, Saad said.
Check out Wal-Mart’s earnings.
The world’s largest retailer posted a 7 percent rise in quarterly profits.
But even as the discounter drew cash-strapped consumers looking to save money, the company also indicated that it could miss second-quarter earnings estimates, which pressured its stock price in the morning.
The collection, to include knits, trousers, blazers and coats, will be targeted to the “better” segment, with articles priced from $59.50 to $595. It will be available in department stores in fall of this year.