NEW YORK (AP) — Fifth and Pacific Cos.' second-quarter loss narrowed on jumps in sales of its Kate Spade and Lucky Brand products. Its adjusted loss was smaller than Wall Street expected, and Fifth & Pacific shares jumped 16 percent in morning trading.

The New York-based clothing and accessories company, formerly known as Liz Claiborne Inc., said Thursday that it posted a loss of $52.1 million, or 48 cents per share, compared with a loss of $89.9 million, or 95 cents per share, in the same quarter last year.

The company, which also owns the Juicy Couture brand, said the recent quarter's results included $2.5 million in losses from discontinued operations, while the year-ago quarter included $36.1 million.

Excluding discontinued operations and one-time items, the company posted an adjusted loss from continuing operations of 9 cents per share compared with an adjusted loss of 16 cents per share a year ago.

Analysts polled by FactSet expected a loss of 13 cents per share.

Net sales fell 6.5 percent to $336.9 million from $360.3 million. Analysts expected $330.8 million.

Fifth & Pacific said that $62 million of the sales decline was related to brands that it sold or eliminated. Excluding those, sales rose 13 percent, the company said. The company sold the Liz Claiborne brand to J.C. Penney Co. last November and officially changed its name in May.

Lucky Brand sales rose 15 percent to $112 million and Kate Spade sales jumped 48 percent to $101 million. But Juicy Couture sales fell 10 percent to $105 million.

Fifth & Pacific shares rose $1.48, or 16 percent, to $10.73 in morning trading, after peaking at $11.52 earlier in the session. Over the past 52 weeks, the company's shares have traded between $4.02 and $15.37.