Fifth & Pacific Companies, Inc. : FIFTH & PACIFIC COMPANIES, INC. ANNOUNCES Q4

  *Expects full year 2012 adjusted EBITDA of $100 to $105 million, up
    approximately 25% compared to full year 2011 on a comparable basis

  *Provides initial full year 2013 adjusted EBITDA guidance in the range of
    $120 to $150 million

  *Expects 2012 year end net debt to be in the range of $345 to $350 million

New York, NY - January 14, 2013  - Fifth & Pacific Companies, Inc.  (NYSE:FNP) 
today announced preliminary fourth quarter 2012 direct to consumer  comparable 
sales (inclusive of e-commerce net sales) as follows:

    Brand     Q4 2012*
kate spade      27%
Lucky Brand      3%
Juicy Couture   (2%)

         * Results are preliminary and subject to quarter-end  closing 

William L. McComb, Chief Executive Officer of Fifth & Pacific Companies, Inc.,
said: "We expect fourth quarter 2012 adjusted EBITDA to be in the range of $63
million to $68  million, resulting  in a full  year 2012  expectation of  $100 
million to  $105 million,  which is  at the  low end  of the  range we  guided 
previously. This includes a $3 million negative impact on adjusted EBITDA from
Hurricane Sandy across the three brands. During the fourth quarter, kate spade
performed at the high end of  our expectations, delivering direct to  consumer 
comparable sales  growth  of 27%.  Lucky  Brand  also had  a  strong  quarter, 
generating direct to consumer comparable sales  growth of 3% and strong  gross 
margins. Juicy  Couture posted  disappointing  direct to  consumer  comparable 
sales and  gross margins  in  November and  December  as the  company  tightly 
managed its inventory through very  aggressive markdowns in response to  sales 

Mr. McComb continued, "Overall  for the company, 2012  was a year of  progress 
marked by industry leading growth at kate spade, and a significant improvement
in performance at Lucky Brand -- tempered  however by a miss in North  America 
caused by merchandising and other issues at Juicy Couture that we believe  are 
now being corrected  under Paul  Blum's direction. We  anticipate reporting  a 
year end inventory  position that is  in line with  our plan, particularly  at 
Juicy Couture. I  am optimistic about  delivering sizeable growth  in 2013  at 
kate spade and Lucky Brand, while recognizing that the fixes at Juicy  Couture 
will come late in 2013 and into  2014. We are providing 2013 guidance in  this 
release for the  company as  a whole,  as well as  by business  unit. We  look 
forward to adding perspective to the outlook at the ICR XChange Conference  on 
Thursday January 17th."

Mr. McComb concluded, "The management team  and Board of Directors of Fifth  & 
Pacific are committed to delivering value to our shareholders. This  includes 
making resource  allocation  decisions today  that  support strong  long  term 
growth within  our current  strategy  as well  as being  thoughtful  regarding 
alternatives to our current multi-brand portfolio approach that unlock value."

Preliminary estimates of  full year  2012 net  sales and  adjusted EBITDA  are 
shown as follows:

              2012 Net Sales & Adjusted EBITDA ($ in Millions)*

         Brand               Net Sales**      Adjusted EBITDA**
kate spade                      $462              $94 - 95
Lucky Brand                      461              34 - 35
Juicy Couture                    499              23 - 24
Adelington Design Group          83              19 - 20
Corporate***                     --              (70) - (69)
Total                          $1,505    $100 - 105

* Results are preliminary and subject to year-end closing adjustments.
** Adjusted results  are from continuing  operations and exclude  streamlining 
initiatives, brand-exiting activities, gain on acquisition of subsidiary, gain
(loss) on extinguishment of debt  and unrealized and certain realized  foreign 
currency gains (losses).
*** Corporate  is fully  allocated  to brand  results  for GAAP  and  Adjusted 
segment reporting purposes.

For 2013, the Company is providing its initial guidance as follows:

                    2013 Financial Outlook ($ in Millions)

                        Full Year Direct-to-Consumer Comp
         Brand                    Sales Growth%           Adjusted EBITDA*
kate spade                          Low Teens               $130 - 140
Lucky Brand                  Mid-High Single Digits           50 - 55
Juicy Couture               Slightly Negative to Flat         (5) - 5
Adelington Design Group                --                     13 - 16
Corporate**                            --                   (68) - (66)
Total                                  --                   $120 - 150

Other Items                    Total
Depreciation & Amortization  ~$75 - 80
Capital Expenditures          ~$115
Interest Expense              $45 - 50
Normalized Tax Rate          38% - 40%
FY Basic Share Count           118M

*Adjusted results  are from  continuing  operations and  exclude  streamlining 
initiatives, brand-exiting activities, gain on acquisition of subsidiary, gain
(loss) on extinguishment of debt  and unrealized and certain realized  foreign 
currency gains (losses).
**  Includes  corporate  finance  shared  services,  investor  relations   and 
communications shared services, legal shared services, human resources  shared 
services, IT shared services,  executive offices, corporate facilities  costs, 
security costs, bank fees, etc.

The Company  is scheduled  to present  at the  ICR XChange  Conference at  the 
Fontainebleau Hotel in Miami, Florida on  Thursday, January 17, 2013 at  12:45 
p.m. EST. The presentation  will be simultaneously  broadcast on the  Internet 
and   can   be    accessed   via    the   Fifth   &    Pacific   website    at An  archived  broadcast  will be  available  on  this 
website through February 7, 2013. The  Company will report its fourth  quarter 
and full year 2012 results on Thursday, February 21, 2013.

As the Company has not completed its quarter and year-end fiscal close and its
analysis of fiscal 2012, and the audit of its 2012 financial statements is not
complete, the  results  presented in  this  press release  are  estimated  and 
preliminary, and, therefore, may  change. Estimates of  2012 GAAP results  and 
reconciliation of  the  various non-GAAP  measures  in this  release  are  not 
provided in  this press  release as  the  Company has  not yet  completed  its 
accounting for certain streamlining  initiatives and brand exiting  activities 
and other items. No reconciliations of 2013 Adjusted EBITDA to GAAP  measures 
are provided because they are not available.

In this release,  Adjusted EBITDA excluding  foreign currency gains  (losses), 
net is defined  as income  (loss) from continuing  operations attributable  to 
Fifth &  Pacific Companies,  Inc., adjusted  to exclude  income tax  provision 
(benefit), interest expense, net, gain on sales of trademarks, gain (loss)  on 
extinguishment of debt,  gain on acquisition  of subsidiary, depreciation  and 
amortization, the impact of expenses incurred in connection with the Company's
streamlining initiatives  and  brand-exiting activities,  non-cash  impairment 
charges and non-cash share-based compensation expense, unrealized and  certain 
realized foreign currency  gains (losses), net  and estimated Adjusted  EBITDA 
associated with  each  of  the following  businesses:  Liz  Claiborne/JCPenney 
apparel and handbags; Axcess  apparel; Monet Europe;  DKNY® Jeans; Kensie  and 
Mac& Jac; Dana  Buchman apparel;  and our  former Curve  fragrance brand  and 
related brands. The  Company believes  that the Adjusted  EBITDA represents  a 
more meaningful  presentation  of  its  historical  operations  and  projected 
financial performance since it provides period to period comparisons that  are 
consistent and more easily understood and better reflects the ongoing business
of the Company. We consider Adjusted EBITDA an important supplemental  measure 
of our performance and believe it  is frequently used by securities  analysts, 
investors and other interested parties in  the evaluation of companies in  our 

About Fifth & Pacific Companies, Inc.

Fifth  &  Pacific  Companies,  Inc.   designs  and  markets  a  portfolio   of 
retail-based, premium, global lifestyle  brands including Juicy Couture,  kate 
spade, and Lucky Brand.  In addition, the Adelington  Design Group, a  private 
brand jewelry design and development group, markets brands through  department 
stores and  serves jcpenney  via  exclusive supplier  agreements for  the  Liz 
Claiborne and  Monet  jewelry  lines  and Kohl's  via  an  exclusive  supplier 
agreement for Dana Buchman jewelry. The Company also has licenses for the  Liz 
Claiborne New York brand, available at  QVC and Lizwear, which is  distributed 
through the club store channel. Fifth  & Pacific Companies, Inc. maintains  an 
18.75% stake  in  Mexx,  a  European  and  Canadian  apparel  and  accessories 
retail-based brand. Visit for more information.

Cautionary Statement Regarding Forward-Looking Statements

Statements contained herein that relate  to the Company's future  performance, 
financial condition, liquidity or business or  any future event or action  are 
forward-looking statements under the Private Securities Litigation Reform  Act 
of 1995. Such statements are indicated  by words or phrases such as  "intend," 
"anticipate," "plan,"  "estimate,"  "target,"  "aim,"  "forecast,"  "project," 
"expect," "believe,"  "we are  optimistic that  we can,"  "current  visibility 
indicates that  we forecast,"  "contemplation"  or "currently  envisions"  and 
similar phrases. Such statements are  based on current expectations only,  are 
not guarantees  of  future performance,  and  are subject  to  certain  risks, 
uncertainties and assumptions. The Company  may change its intentions,  belief 
or expectations at any time and without  notice, based upon any change in  the 
Company's assumptions  or otherwise.  Should one  or more  of these  risks  or 
uncertainties materialize, or should  underlying assumptions prove  incorrect, 
actual results  may  vary  materially from  those  anticipated,  estimated  or 
projected. In addition,  some risks and  uncertainties involve factors  beyond 
the Company's control. Among  the risks and  uncertainties are the  following: 
our ability to continue  to have the necessary  liquidity, through cash  flows 
from operations  and availability  under our  amended and  restated  revolving 
credit facility (as  amended to date,  the "ABL Facility"),  may be  adversely 
impacted by a  number of factors,  including the level  of our operating  cash 
flows, our ability to maintain  established levels of availability under,  and 
to comply with the financial and other covenants included in, our ABL Facility
and the borrowing base requirement in our ABL Facility that limits the  amount 
of borrowings we may make based on a formula of, among other things,  eligible 
accounts receivable and inventory and the minimum availability covenant in our
ABL Facility that requires us to maintain availability in excess of an  agreed 
upon level; general economic conditions in the United States, Europe and other
parts of the  world, including  the impact of  debt reduction  efforts in  the 
United States; levels of consumer confidence, consumer spending and  purchases 
of discretionary items, including fashion  apparel and related products,  such 
as ours; restrictions in  the credit and capital  markets, which would  impair 
our ability to access additional sources  of liquidity, if needed; changes  in 
the cost of raw materials,  labor, advertising and transportation which  could 
impact prices  of our  products;  our ability  to successfully  implement  our 
long-term strategic plans,  including the  focus on our  JUICY COUTURE,  LUCKY 
BRAND and KATE SPADE  brands and expansion into  markets outside of the  U.S., 
such as China, Japan and Brazil,  and the risks associated with the  expansion 
into markets  outside of  the U.S.;  our ability  to sustain  recent  improved 
performance in our LUCKY BRAND  business; our ability to successfully  improve 
the operations and results,  creative direction and  product offering at  our 
JUICY COUTURE  brand;  our  dependence  on a  limited  number  of  large  U.S. 
department store customers,  and the risk  of consolidations,  restructurings, 
bankruptcies and other ownership changes in the retail industry and  financial 
difficulties at  our larger  department store  customers; whether  we will  be 
successful operating the KATE SPADE business in Japan and the risks associated
with such operation; risks associated with the transition of the MEXX business
to an entity in which we hold a minority interest and the possible failure  of 
such entity that may make our interest therein of little or no value and risks
associated with the ability  of the majority shareholder  to operate the  MEXX 
business successfully, which will impact  the potential value of our  minority 
interest; costs associated with the transition of the LIZ CLAIBORNE family  of 
brands, MONET US, DANA BUCHMAN, KENSIE and  MAC & JAC brands from the  Company 
to their  respective  acquirers; our  ability  to anticipate  and  respond  to 
constantly changing consumer  demands and  tastes and  fashion trends,  across 
multiple brands, product lines, shopping channels and geographies; our ability
to attract  and retain  talented, highly  qualified executives,  and  maintain 
satisfactory relationships  with  our  employees; our  ability  to  adequately 
establish, defend and protect our trademarks and other proprietary rights; our
ability to successfully develop or acquire new product lines, such as the Kate
Spade Saturday line, or enter new markets, such as China, Japan and Brazil  or 
product  categories,  and  risks  related  to  such  new  lines,  markets   or 
categories; risks associated  with the  sale of  the LIZ  CLAIBORNE family  of 
brands to J.C.  Penney Corporation,  Inc. and the  licensing arrangement  with 
QVC, Inc., including, without limitation,  our ability to maintain  productive 
working relationships with these parties  and possible changes or disputes  in 
our other  brand  relationships  or relationships  with  other  retailers  and 
existing licensees as a result; the impact of the highly competitive nature of
the markets within  which we  operate, both within  the U.S.  and abroad;  our 
reliance on independent  foreign manufacturers,  including the  risk of  their 
failure to  comply  with safety  standards  or our  policies  regarding  labor 
practices; risks associated with our buying/sourcing agreement with Li &  Fung 
Limited, which results in a  single third party foreign buying/sourcing  agent 
for a significant portion of our products; risks associated with the delay  in 
our previously  announced plan  to close  our Ohio  distribution facility  and 
transition to a single third-party service provider for a significant  portion 
of our  U.S.  distribution,  including risks  associated  with  continuing  to 
operate our  Ohio  distribution  facility  beyond  the  end  of  fiscal  2012, 
including increased operating expenses, risks related to systems  capabilities 
and risks related to the Company's ability to continue to appropriately  staff 
the Ohio facility with both union and non-union employees; a variety of legal,
regulatory, political  and  economic risks,  including  risks related  to  the 
importation and exportation of product, tariffs and other trade barriers;  our 
ability to adapt to and compete  effectively in the current quota  environment 
in which general quota has expired on apparel products, but political activity
seeking to re-impose quota has been  initiated or threatened; our exposure  to 
currency fluctuations;  risks  associated  with material  disruptions  in  our 
information  technology  systems,  both  owned  and  licensed,  and  with  our 
third-party e-commerce platforms and operations; risks associated with privacy
breaches; risks associated with  credit card fraud  and identity theft;  risks 
associated with third  party service  providers, both  domestic and  overseas, 
including service  providers in  the area  of e-commerce;  limitations on  our 
ability to  utilize all  or a  portion of  our US  deferred tax  assets if  we 
experience an  "ownership  change"; and  the  outcome of  current  and  future 
litigation and other  proceedings in which  we are involved.  Such risks  and 
uncertainties also  include other  factors  as are  set  forth in  this  press 
release, and in the  Company's Quarterly Report on  Form 10-Q for the  quarter 
ended September 29, 2012, filed with the S.E.C. on October 25, 2012, including
in the sections  entitled "Item  1A-Risk Factors" and  "Statement on  Forward 
Looking Statements." The Company undertakes  no obligation to publicly  update 
or  revise  any  forward-looking  statement,  whether  as  a  result  of   new 
information, future events or otherwise.

Investor Relations Contact:  Media Contact:
Robert J. Vill               Jane Randel
Sr. VP Finance and Treasurer Sr. VP Corporate Communications
201.295.7515                 212.626.3408

FNP - 4Q12 Pre-announcement - 1.14.13


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(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.

Source: Fifth & Pacific Companies, Inc. via Thomson Reuters ONE
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