NEW YORK May 23, 2012 $10 Jack Spade www.fifthandpacific.com
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About Fifth & Pacific Companies, Inc.
Dana Buchman www.fifthandpacific.com
- our ability to continue to have the necessary liquidity, through cash flows from operations and availability under our amended and restated revolving credit facility, may be adversely impacted by a number of factors, including the level of our operating cash flows, our ability to maintain established levels of availability under, and to comply with the financial and other covenants included in, our amended and restated revolving credit facility and the borrowing base requirement in our amended and restated revolving credit facility that limits the amount of borrowings we may make based on a formula of, among other things, eligible accounts receivable and inventory and the minimum availability covenant in our amended and restated revolving credit facility that requires us to maintain availability in excess of an agreed upon level;
- the United States Europe the United States
- levels of consumer confidence, consumer spending and purchases of discretionary items, including fashion apparel and related products, such as ours;
- restrictions in the credit and capital markets, which would impair our ability to access additional sources of liquidity, if needed;
- changes in the cost of raw materials, labor, advertising and transportation which could impact prices of our products;
- our dependence on a limited number of large US department store customers, and the risk of consolidations, restructurings, bankruptcies and other ownership changes in the retail industry and financial difficulties at our larger department store customers;
- risks associated with the transition of the MEXX business to an entity in which we hold a minority interest and the possible failure of such entity that may make our interest therein of little or no value and risks associated with the ability of the majority shareholder to operate the MEXX business successfully, which will impact the potential value of our minority interest;
- MONET US DANA BUCHMAN
- our ability to sustain recent performance in connection with our LUCKY BRAND product offering and our ability to revitalize our JUICY COUTURE creative direction and product offering;
- our ability to anticipate and respond to constantly changing consumer demands and tastes and fashion trends, across multiple brands, product lines, shopping channels and geographies;
- our ability to attract and retain talented, highly qualified executives, and maintain satisfactory relationships with our employees;
- our ability to adequately establish, defend and protect our trademarks and other proprietary rights;
- our ability to successfully develop or acquire new product lines or enter new markets or product categories, and risks related to such new lines, markets or categories;
- risks associated with the sale of the LIZ CLAIBORNE family of brands to J.C. Penney Corporation, Inc. ("JCPenney") and the licensing arrangement with QVC, Inc. ("QVC"), including, without limitation, our ability to maintain productive working relationships with these parties and possible changes or disputes in our other brand relationships or relationships with other retailers and existing licensees as a result;
- the impact of the highly competitive nature of the markets within which we operate, both within the US and abroad;
- our reliance on independent foreign manufacturers, including the risk of their failure to comply with safety standards or our policies regarding labor practices;
- risks associated with our buying/sourcing agreement with Li & Fung Limited ("Li & Fung"), which results in a single third party foreign buying/sourcing agent for a significant portion of our products;
- a variety of legal, regulatory, political and economic risks, including risks related to the importation and exportation of product, tariffs and other trade barriers;
- our ability to adapt to and compete effectively in the current quota environment in which general quota has expired on apparel products, but political activity seeking to re-impose quota has been initiated or threatened;
- our exposure to currency fluctuations;
- risks associated with material disruptions in our information technology systems;
- risks associated with privacy breaches;
- risks associated with credit card fraud and identity theft;
- risks associated with third party service providers, both domestic and overseas, including service providers in the area of e-commerce;
- limitations on our ability to utilize all or a portion of our US deferred tax assets if we experience an "ownership change"; and
- the outcome of current and future litigation and other proceedings in which we are involved.
All future written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. We assume no obligation to update any forward-looking statements in this prospectus or any applicable prospectus supplement, including the documents incorporated by reference herein or therein, as a result of new information, future events or developments, except as required by Federal securities laws. In addition, we do not endorse any projections regarding future performance that may be made by third parties.
Fifth & Pacific Companies, Inc:
O: 212 885-0330
M: 917 886-5761