The company attributed the increase in net sales to its adoption of a strategic omni-channel approach, according to its press statement.
The net sales of Kate Spade & Co excluding sales for wind-down operations stands at $275 million for Q3 2015. This figure shows an increase of $57 million or 26.1 per cent as compared to the net sales figure of the corresponding quarter of 2014.
Income from continuing operations for this quarter was $5 million or $0.04 per diluted share against an income of $3 million or 0.02 per diluted share for the corresponding quarter of 2014 as per GAAP method.
Commenting on the results, Craig A Leavitt, CEO of Kate Spade & Company said, “Our third quarter results, including industry-leading comparable sales increases, underscore that the diversified foundation we have created is driving sustainable growth in sales and profitability, even with our deliberate pullback in a number of key sales and promotional events.”
“Moving forward, we will continue to focus on the factors that differentiate our business as a growing global lifestyle brand, including our partnered approach to expansion, controlled points of distribution and relentless quality of sale efforts,” Leavitt said. (MCJ)
Fibre2Fashion News Desk — India
Apparel/Garments | On 28th May 2017
Over 45 per cent retailers in the US plan to utilise artificial...
Textiles | On 27th May 2017
The Fabric of Change initiative of Ashoka and the C&A Foundation is...
Studio Priyanka Rajiv
‘To reinvent the age-old tradition of embroidery to suit demographics and...
Angelina Francesca Cheang
'Consumers in the age-group 21 to 38 are driving the activewear trend'
‘The share of kidswear segment in the online sector is still small in...
Iago Castro Asensio
RCfil Distribuciones S.L.
Iago Castro Asensio, International Business Manager of RCfil...
Swerea IVF AB
Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...
Biovation II LLC
Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...
Apparel/Garments | On 26th May 2017