Liz Claiborne Rises Most in 24 Years on Brand Sale
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Liz Claiborne Inc. surged the most since 1987 after announcing a plan to sell brands including its namesake to J.C. Penney Co. and rename the company to focus on the Juicy Couture, Kate Spade and Lucky Brand lines.
Liz Claiborne closed up 34 percent to $6.84 in New York, in the biggest percentage gain since Oct. 21, 1987. The shares had slid 29 percent this year before today.