The clothing maker has hired a firm to assist with improving U.S. and European operations.
Press Release Service – Wired PR News – Liz Claiborne Inc. has enlisted the help of a turnaround firm to assist with improving its performance. As reported by the Associated Press (AP), the company has hired Alvarez & Marsal to help with increasing revenue for its U.S. and European operations.
As noted by the AP, the company restructured over the past several years and put more emphasis on its dominant brands like Juicy Couture. Despite this and other cost cutting measures, consumer spending has significantly impacted sales of its top brands. Losses were reportedly more than three times higher in the company’s second quarter than they were in the previous year.
Alvarez & Marshal are reportedly expected to review the operations of the company and make recommendations on what further steps should be taken to enhance profitability.
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