Chinese apparel maker and retailer Baoxiniao has announced plans to raise up to CNY800 million finance for the opening of 178 new stores by issuing new shares. According to a report published by the company, its application for the public offering of A-shares has been approved by the Issuance Examination Committee of China Securities Regulatory Commission. Under [...]

Liz Claiborne Inc. (LIZ) shares dived more than 18% today after the apparel maker posted a wider-than-expected first-quarter loss.

The company lost 37 cents per share for the quarter, excluding one-time items, while analysts expected a loss of 24 cents.

Sales decreased 29% to $779.7 million. Net sales fell 17.1%, excluding certain items.

Liz Claiborne announced earlier this year that it would not provide full-year earnings guidance owing to economic uncertainty.

The company still expects a 15% to 25% drop in same-store sales during the third quarter for its Juicy Couture, Lucky Brand and Kate Spade brands. Same-store sales at its Mexx brand is expected to decline in the high single digit range. Moreover, it expects overall same-store sales results to flatten in the fourth quarter.

Liz Claiborne projects an adjusted operating loss for the second quarter, indicating sales and loss would look similar to its latest quarter's

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Sara Lee Corp. (SLE) shares rose sharply this morning on reports that the company was looking to sell its European household unit for more than $2 billion to focus more on the core food and beverage business.

Citing people familiar with the matter, the Wall Street Journal said the company has hired Goldman Sachs to examine possible bidders for the business that accounts for about 15% of its sales. Sara Lee spokesman Mike Cummins declined to comment on what he called speculation.

The Downers Grove, Illinois-based company swung to a loss in the latest second quarter as a stronger dollar weighed on its international sales and consumer spending continued to slump amid the global economic downturn. Sara Lee, which spun off apparel maker Hanesbrands in 2006, has been looking to streamline operations since then.

The Journal pointed to Unilever (UN), Reckitt Benckiser and

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