Investors Shred Liz Claiborne

Shares plummeted Tuesday after the apparel company announced sharply lower earnings

Liz Claiborne (LIZ) has been struggling to sell its clothing to retail customers amid cut-throat competition, even as it tries to cope by building up new distribution channels. Shares of the New York apparel company lost nearly one-fifth of their value on May 1 after it said that its profits plunged and gave a disappointing forecast for the year.

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