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LIZ CLAIBORNE REPORTS EARNINGS

 LIZ CLAIBORNE REPORTS EARNINGS
 NEW YORK, Feb. 18 /PRNewswire/ -- Samuel M. Miller, senior vice


president, finance of Liz Claiborne, Inc. (NYSE: LIZ), today announced record sales and earnings for the year and quarter ended Dec. 28, 1991.
 Net sales for the twelve months of 1991 increased 16.1 percent to $2,007,177,000 from $1,728,868,000 for the 1990 year. Earnings for the 1991 year increased 8.2 percent to $222,748,000 from $205,800,000 for the prior year. Earnings of $2.61 per share reflect a 10.1 percent increase over the prior year's $2.37 per share. Net sales for the 1991 fourth quarter of $530,705,000 increased 13.3 percent over the net sales of $468,208,000 for the prior year period. Earnings of $56,524,000 improved 1.5 percent from $55,691,000 for the prior year's comparable quarter. Earnings of $.66 per share reflect a 1.5 percent increase over last year's comparable quarter of $.65 per share.
 Miller commented, "The company is extremely gratified to have achieved record sales and earnings despite the slowdown in consumer spending which has resulted in a difficult and unsettled retail environment and the previously reported $.04 per share charge in the fourth quarter of the year relating to the Macy's Chapter 11 Bankruptcy Filing."
 As reported in a prior announcement, the board of directors has declared a regular cash dividend on the company's common stock at the rate of $0.0875 per share to be paid on March 6, 1992 to shareholders of record at the close of business on Feb. 14, 1992. The declaration of any future dividends will be subject to the company's earnings, financial position, capital requirements and other relevant factors.
 With respect to the previously announced stock repurchase programs, Miller noted that through Feb. 14, 1992, of the total of $150 million authorized, the company has purchased approximately 4.5 million shares of common stock at an aggregate purchase price of approximately $124 million.
 LIZ CLAIBORNE, INC. AND SUBSIDIARIES
 Consolidated Statements of Income
 (Dollars in thousands except per share data - Unaudited)
 Twelve months Three months
 Periods ended 12/28/91 12/29/90 12/28/91 12/28/90
 Net sales $2,007,177 $1,728,868 $530,705 $468,208
 Cost of sales 1,207,502 1,030,835 321,511 277,033
 Gross profit 799,675 698,033 209,194 191,175
 S,G&A expenses 471,060 393,061 126,303 107,232
 Operating income 328,615 304,972 82,891 83,943
 Investment and other
 income, net 22,133 24,328 5,633 5,248
 Income before provision
 for income taxes 350,748 329,300 88,524 89,191
 Provision for income
 taxes 128,000 123,500 32,000 33,500
 Net income 222,748 205,800 56,524 55,691
 Weighted average common
 shares outstanding 85,457,204 86,783,880 85,549,112 85,111,827
 Earnings per common
 share $2.61 $2.37 $0.66 $0.65
 Dividends per common
 share (rounded to the
 nearest penny) $0.33 $0.24 $0.09 $0.06
 -0- 2/18/92
 /CONTACT: Samuel M. Miller, senior vice president-finance of Liz Claiborne, 212-354-4900/
 (LIZ) CO: Lize Claiborne, Inc. ST: New York IN: TEX SU: ERN


SM-OS -- NY013 -- 9779 02/18/92 09:24 EST
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Date:Feb 18, 1992
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