Stocks swooned again Thursday, establishing a new low for the bear market and clamping down ever harder on companies dependent on consumer spending — including two of fashion’s marquee names.
Jones Apparel Group Inc. saw the value of its shares fall 47.6 percent, while Liz Claiborne Inc.’s shares declined 22.5 percent. So far this week, Jones and Claiborne have each lost more than 50 percent of their stock’s value.
The declines came as chains across the retail spectrum reported results for the third quarter that almost universally boiled down to the same message: lower earnings or larger losses. The only exceptions were Gap Inc....
Jones, Liz Claiborne Swept Up in Dow's Plunge
Jones, Liz Claiborne Swept Up in Dow's Plunge
by
Posted Friday November 21, 2008
From WWD Issue 11/21/2008
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