WEALTH UNIVERSITY

[VPbanker]

Liz Claiborne Up 16% in Pre-Market Under Exclusive Distribution Pact With J.C. Penney 10/08 05:34 AM



08:34 AM Eastern Daylight Time, 10/08/2009 (MidnightTrader) -- J.C. Penney Co. (JCP:$34.91,00$0.24,000.69%) will become Liz Claiborne Inc.'s (LIZ:$5.20,00$0.27,005.48%) exclusive department store distributor for all Liz Claiborne (LIZ:$5.20,00$0.27,005.48%) and Claiborne branded merchandise in the U.S. and Puerto Rico under a long-term licensing pact between the companies.
Liz Claiborne (LIZ:$5.20,00$0.27,005.48%) will also move the distribution of the Liz Claiborne New York brand designed by Isaac Mizrahi to QVC. Liz expects the agreement to swing the Liz Claiborne (LIZ:$5.20,00$0.27,005.48%) wholesale brand franchise to a targeted adjusted operating profit in 2010 from a meaningful adjusted operating loss in 2009.
Price: 6.03, Change: +0.83, Percent Change: +15.96
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