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Liz Claiborne Closing Outlets

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Liz Claiborne has announced that it will close its 87 outlet stores over the new few months, reports WWD. Turns out that the company was losing money on its outlet business. "Our current flee of Liz Claiborne branded outlet stores was originally designed and leased to handle clearance for many brands in our portfolio," said William McComb, the company's CEO. He calls it "an outdated consumer proposition and one that no longer makes economic sense, given the vast changes we have made to portfolio and business strategy over the past three years." Liz Claiborne will be launching in JCPenney and on QVC in the next few months as well. [WWD]