OTHER NEWS - Dec. 20, 1994
From Times Staff and Wire Reports
Liz Claiborne to Shut Some Stores: The apparel maker said it will close its 77-store First Issue retail chain, which includes stores in Costa Mesa, San Diego, Canoga Park, Santa Monica and Arcadia. First Issue stores sell women’s casual and career clothes under the First Issue name, but the label failed to catch on, the firm said. The stores will be closed or converted to Liz Claiborne, Dana Buchman and Elisabeth stores. Executives didn’t know how many stores will be converted or how many of the chain’s 500 to 600 employees will lose their jobs. The New York-based company said it will take a pretax charge against earnings of $20 million to $30 million, cutting 16 cents to 24 cents from fourth-quarter net income.
