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

Courtesy: Nine West

Fashion | On 17th Jun 2018

ABG wins bid in Nine West Holdings auction

Authentic Brands Group (ABG), owner of a global portfolio of...

Courtesy: Kreussler

Textiles | On 17th Jun 2018

USDA certifies Kreussler's solvent as biobased

The US Department of Agriculture (USDA) has certified Kreussler's...

Courtesy: ITUC

Textiles | On 17th Jun 2018

Democratic space shrink & corporate greed are rising: ITUC

Shrinking democratic space for working people and unchecked corporate ...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search