Women's apparel retailer and manufacturer Liz Claiborne Inc indicated it expects a wider second-quarter loss than analysts forecast and its shares fell 10 percent.
The owner of the Kate Spade, Juicy Couture and Lucky brands said in a regulatory filing on Thursday that it expects its loss in the second quarter to be wider than that of the first quarter, before one-time items.
The company reported a loss of 37 cents a share, excluding one-time items, in the first quarter. Analysts, on average, forecast a second-quarter loss of 33 cents a share, according to Reuters Estimates.
Lower restructuring costs will lead the company's reported loss to be narrower than the first quarter, the company said.
The company said it expected sales to be flat compared with the year-earlier quarter.
Liz Claiborne shares traded at $3.60 in premarket trading, down from Wednesday's New York Stock Exchange close of $4.02.
(Reporting by Brad Dorfman; Editing by Brian Moss)