Liz Claiborne Down 23% on Expected Loss

Liz Claiborne (LIZ Quote) says it is looking at a bigger loss in the second quarter than expected --and investors are pre-emptively punishing the company for it.

The owner of the Kate Spade, Juicy Couture and Lucky brands said in a regulatory filing that it expects its loss in the second quarter to be wider than the loss in the first quarter.

The reasoning behind the larger loss is, however, a mystery.

Reuters reported that a spokeswoman said the dismal forecast was being driven by the impact of "certain items," and that the company would discuss details during its conference call in August. ...