Liz Claiborne Trading Lower After CFO Departure

Liz Claiborne LIZ is trading lower on the session after the company announced yesterday that its CFO, Andrew Warren, is leaving the company. The apparel designer also updated its 2012 outlook. Earlier this year, the company announced that it is changing its name to "Fifth & Pacific Companies" to better communicate its strategic focus on growing its three global lifestyle brands (Juicy Couture, kate spade and Lucky Brand) and reflect the sale of the Liz Claiborne namesake brand to J.C. Penney, among other recent transactions. Liz Claiborne is currently trading at $8.60, down $1.33 or 13.39%.