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Business Description
Liz Claiborne Inc. designs and markets branded women's and men's apparel, accessories and fragrance products. The Company operates the following business segments: Wholesale Apparel, Wholesale Non-Apparel and Retail. Its current portfolio of brands includes most apparel and non-apparel categories, reaching consumers of various age, gender, size, attitude, shopping or value preference. These products range from classic and traditional apparel to modern and contemporary wear. Under Liz Claiborne's multi-channel distribution strategy, the brands are available at over 30,000 different retail locations throughout the world, including the Company's own specialty retail and outlet stores, and on its Elisabeth, Lucky Brand and Mexx E-commerce sites.

Financial Information
For the 26 weeks ended 7/3/04, net sales rose 5% to $2.13 billion. Net income increased 10% to $119.3M. Revenues reflect the acquisitions of Juicy Couture and ENYCE. Net income also reflects an increased gross profit margin due to improved company-wide inventory management and lower sourcing costs.