financial
financial

Kellwood Shares Sink After Firm Lowers Earnings Forecast

Wall Street punished Kellwood's move to shed three divisions and cut its earnings forecast, sending shares down $4.24 to $23.87 on the NYSE.

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Gilbert Harrison, chairman of Financo Inc., which has been retained as an adviser to Kellwood to sell the brands, said he has already seen some action. "We've had calls from over 15 strategic buyers today," he said, adding they are interested in Biflex intimate apparel, as well as the women's brands such as Pink Poodle and David Brooks. "The objective is to move as rapidly as possible to achieve Kellwood's objectives," said Harrison.

Both Jones Apparel Group and Liz Claiborne Inc. declined comment on whether they are interested in purchasing any of these Kellwood brands.

— With contributions from Vicki M. Young

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