• March 14, 2008

Liz Claiborne Inc. reported a $451 million charge in its partnered brands division, resulting in a loss of $435.7 million for the quarter. And sales for the quarter slipped 3.2%, to $1.21 billion.

For the full year, sales slipped 1.4% to $4.58 billion.

The company, which said its weak results were consistent with its announcement last month that it would place some of these brands under a strategic review, says its direct brands did well.

Those--which include Juicy Couture and its newly acquired Kate Spade--registered a sales gain of 17.9% in the fourth quarter, to $649 million. (But at its Lucky Brand, sales dropped 10.2%, to $114 million.)

--Sarah Mahoney