Liz Claiborne (LIZ) Narrows Loss But Sales Fall 22%

Liz Claiborne, Inc. (NYSE: LIZ) on Thursday morning released financial results that beat Wall Street expectations, when the company posted a smaller than expected loss.

Liz Claiborne, Inc. reported that it narrowed its 1st quarter loss to $72 million, or 76 cents per share, from $91 million, or 97 cents per share, a year earlier.

Excluding special items, Liz Claiborne, Inc. lost 38 cents per share.

Sales were down 22% to $608 million.

A poll of analysts conducted by Thomson Reuters, showed an average Wall Street estimate of an expected loss of 48 cents per share.