At 9:17 a.m. (0347 GMT), the 30-share BSE index was
down 1.22 percent at 16,817.67 points, with 24 of its
components declining.The broader 50-share NSE index was also down 1.22
percent at 5,055.9 points.
Penney had the exclusive right to the Liz Claiborne brand
since August 2010. The department store chain expects to become
the exclusive store with Monet by August 2012.The company also ended its licensing deal for DKNY Jeans
with designer Donna Karan. Claiborne said the transactions will
raise $328 million, which it will use to pay down its debt.Liz Claiborne expects net debt at the end of fiscal 2011 to
be between $270 million and $290 million.
