The net sales for the first quarter of 2006 were $1.171 billion, a decrease of $41 million, or 3.4 percent, compared to the first quarter of 2005. Gross profit decreased $14 million, or 2.5 percent, to $544 million in the first quarter of 2006 over the first quarter of 2005. Net profit fell 33.8 percent to $47 million.
For fiscal 2006, we are reaffirming our previous guidance, projecting net sales to increase low single digits compared to fiscal 2005, an operating margin in the range of 9.2 - 9.6 percent and EPS in the range of $2.58 - $2.73.
For the second quarter of 2006, we are projecting net sales to be flat to up low single digits compared to the second quarter of 2005, an operating margin in the range of 5.8 - 6.2 percent and EPS in the range of $0.34 - $0.37.
Liz Claiborne Inc designs and markets an extensive range of branded women's and men's apparel, accessories and fragrance products.
marketing@alchempro.com
