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Net sales grow 13.7% at Kate Spade & Co in Q2FY17
Aug '16
Net sales for the second fiscal quarter ended July 2, 2016 at US based apparel marketer Kate Spade & Company grew to $320 million, an increase of $39 million, or 13.7 per cent year on year.

Second quarter of fiscal 2016-17 direct-to-consumer comparable sales rose 4 per cent or just 1 per cent, when excluding ecommerce.

Comparable sales per square foot for Kate Spade New York stores were $1,619 for the latest twelve months as against $1,611 for the twelve month period ended April 2, 2016.

Gross profit as a percentage of net sales was down to 59.7 per cent for the reporting quarter vis-à-vis 61.0 per cent for the prior fiscal's second quarter.

For the quarter under review, income from continuing operations was $25 million, or $0.19 per diluted share versus $9 million, or $0.07 per diluted share, in the second fiscal quarter of 2015-16.

Diluted earnings per share from continuing operations in the reporting period using a normalised tax rate were $0.11 as against adjusted diluted earnings per share of $0.08 in the earlier fiscal's same quarter. (AR)

Fibre2fashion News Desk - India

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