Kate Spade's Q4 net sales rise 7.62%

03 Mar '16

2 min read

Kate Spade & Company, a US based apparel and accessories provider specialising in womenswear, reported a rise of 7.62 per cent to $428.95 million in its net sales in the fourth quarter of the year, ending on January 2, 2016, as compared to $398.57 million in the corresponding period last year, according to a press statement issued by the company.

However, net income for Q4 at Kate Spade & Company in the year fell by 51.46 per cent to $61.4 million as compared to $126.5 million in the fourth quarter of the year, ending on January 3, 2015.

Operating income for this period rose by 57.05 per cent to $73.6 million as compared to $46.9 million in the corresponding quarter of the prior year.

Gross profit rose by 12.10 per cent to $258.08 million as compared to $230.22 million in the previous year.

Commenting on the results, Craig Leavitt, CEO of Kate Spade & Company said, “Our quality of sale efforts are successfully fuelling brand aspiration and our channel-agnostic approach was a key driver of growth both during the fourth quarter and throughout 2015.”

“We will continue to prioritise these important points of differentiation in 2016,” he said.

The company expects net sales in the range of $1.385 billion to $1.410 billion in 2016. (MCJ)

Fibre2Fashion News Desk – India

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