Liz Claiborne Unveils Long-Term Growth Plan

Liz Claiborne Inc. reveals its long-term growth plan, under which the company will hone its brand portfolio, aggressively manage its cost structure and innovate its supply chain in order to enhance shareholder returns. The company will concentrate on powerful brands with strong direct-to-consumer growth paths, as well as a refined group of wholesale-based brands with robust consumer franchises. In order to better focus its resources, the company is conducting a review of strategic alternatives for 16 brands in its existing portfolio. In 2008, the company expects to achieve full-year sales of $4.2 billion to $4.3 billion and adjusted EPS of $2.35 to $2.50. Over the long-term, the company expects to achieve annual revenue growth in the high single digits, operating margin in the mid-teens, EPS growth in the high-teens, and a return on invested capital in the high-teens.