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Kate Spade's Q3 2015 net sales rise 10.7%
10
Nov '15
Kate Spade & Company, global manufacturer and retailer of fashion apparel and accessories, posted net sales of $277 million for the third quarter of 2015, which is a rise of 10.7 per cent as compared to the net sales posted for the corresponding quarter of 2014.

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

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