Home / Knowledge / News / Apparel/Garments / Retailer Fifth & Pacific lowers full-year profit target
Retailer Fifth & Pacific lowers full-year profit target
03
Oct '12
Fifth & Pacific Companies Inc revised forecasted 2012 adjusted EBITDA from a range of $125 to $140 million to $100 to $115 million. The Company also announced preliminary Q3 2012 direct-to-consumer comparable sales (inclusive of e-commerce net sales) as follows:                                             

William L. McComb, Chief Executive Officer of Fifth & Pacific Companies, Inc., said: "We updated our 2012 projections for each of our brands, and the resulting guidance for our overall corporation. While two of the brands continue to perform well, as we now have visibility as to comparable sales and margins for the third quarter at Juicy Couture, we are not seeing the improved results we were forecasting for Juicy and are not expecting Juicy to achieve its forecasted results in the fourth quarter.”

“This means our near term guidance must be brought in line with the trends we are seeing while we continue to work through merchandising improvements there. We continue to be optimistic about our ability to turn around the Juicy business results and capitalize on its very strong global brand awareness and reputation; in the meantime, kate spade's results are powerful and encouraging, and Lucky Brand is continuing to perform well."
 
Mr. McComb continued, "Where previously kate spade's outperformance of its forecasts had kept us on target overall for the year, even while Juicy had experienced difficulties during the first half of the year, because of what we know about the third quarter at Juicy, we are now forecasting consolidated fiscal 2012 adjusted EBITDA, excluding unrealized foreign currency transaction gains or losses, to be in the range of $100 to $115 million, compared to the previous range of $125 to $140 million, primarily driven by significant shortfalls in full price sell-through rates at Juicy Couture in the third quarter and expectations for these trends to continue for the balance of the year.”
 
“This new forecast also assumes continued strong performance at kate spade and performance at Lucky Brand to slightly exceed expectations. For the third quarter of 2012, we are forecasting adjusted EBITDA, excluding unrealized foreign currency transaction gains or losses, to be in the range of $17 to $20 million."
 
 


Must ReadView All

Apparel/Garments | On 30th Apr 2016

Britain keen on new ventures in textiles and garment

British High Commissioner to India Sir Dominic Asquith, has said that ...

Apparel/Garments | On 30th Apr 2016

‘India’s apparel sector needs to revisit policies’

Apparel Export Promotion Council (AEPC)’s Additional Secretary...

Textiles | On 30th Apr 2016

Bangladesh spinners wary of another gas price hike

Bangladeshi cotton spinners have expressed concern that they may lose ...

Interviews View All

Gaurav Poddar
Siyaram Silk Mills Ltd.

How do you foresee the prospects of Indian apparel market in 2014? Kindly...

Geetanjali Kapoor
GMS Exports

How do you see the market for readymade garments in India? What will be...

Alison Ward
Cotton Connect

Is water scarcity a serious problem in the global cotton sector at...

Mr David Rousse
Association of Nonwoven Fabric Industry (INDA)

David Rousse is the new President of the Association of Nonwoven Fabric...

Mr. K.K. Agarwal
Alps Industries Limited

Mr. K.K. Agarwal, Chairman of Alps Industries Limited, aged 69 years is a...

Mr. Utkarsha Parikh
Skaps Industries India Pvt Ltd

Mr. Utkarsha N. Parikh is a 41 year old businessman who started his own...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search