Feb 29 (Reuters) - Liz Claiborne Inc reported a lower adjusted quarterly profit for the holiday quarter, as sales at its largest brand, Juicy Couture, plummeted.
For the holiday quarter, the company had net income $229.2 million, which includes profits from the sale of its namesake brand to J.C. Penney Co Inc last year, or $1.91 a share, compared with a loss of $30.1 million, or 28 cents a share, a year before.
Including only continuing operations, Claiborne had an adjusted profit of 10 cents per share, down from 14 cents a year earlier.
Sales at Juicy Couture, which generates 36 percent of total sales, fell 15.4 percent, while sales at Lucky Brand, its second largest label, were up 23.2 percent, and kate spade sales rose 73.4 percent.
The company shed a number of major brands in 2011. Its total sales fell 2.6 percent to $447.1 million.