Net sales for the second quarter of 2013 were $382 million, an increase of $45 million, or 13.4%, from the comparable 2012 period. Adjusted loss per share from continuing operations for the second quarter of 2013 was ($0.12), compared to adjusted loss per share from continuing operations of ($0.09) for the second quarter of 2012.
Adjusted EBITDA, net of foreign currency transaction adjustments, was $8 million for the second quarter of 2013 and $16 million for the second quarter of 2012.
For the first half of 2013, the Company recorded a loss from continuing operations of ($76) million, or ($0.63) per share, compared to a loss from continuing operations for the first half of 2012 of ($101) million, or ($0.96) per share. Adjusted loss per share from continuing operations in the first half of 2013 was ($0.27) compared to an adjusted loss per share from continuing operations of ($0.31) in the first half of 2012. Net sales for the first half of 2012 were $754 million, an increase of $100 million, or 15.3%, from the comparable 2012 period.
William L. McComb, Chief Executive Officer of Fifth & Pacific Companies, Inc., said: "We were pleased overall with the performance of our brands during the quarter, as we believe we remain on track to achieve our 2013 financial targets. Kate Spade posted a 65% increase in total net sales, driven by strong performance in all channels of its business and a 27% increase in direct-to-consumer comparable sales.
Excluding the impact of $22 million in net sales associated with Kate Spade Japan, net sales for Kate Spade increased 43%. Kate Spade remains on track to achieve its adjusted EBITDA target of $130 to $140 million for the year, despite the planned dilution on adjusted EBITDA margin resulting from the reporting impact of the Kate Spade Japan acquisition and the launch of Kate Spade Saturday."
Click here to view the full report
Fifth & Pacific
Fashion | On 25th Apr 2017
LVMH and Christian Dior, which holds directly and indirectly 41 per...
Information Technology | On 25th Apr 2017
It is the era of smart. Intelligent materials like self-repairing...
‘Online economy has changed the whole dynamics of buying habits.’
Leadership & Sustainability
Sustainable models are beneficial for brands, retailers and manufacturers
We are ready to adopt or follow every opportunity
Technical Absorbents Ltd
Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...
Voith Paper GmbH & Co. KG
The glass mat industry is growing by five to eight per cent annually. Kai...
InvestKonsult Sweden AB
Investkonsult Sweden AB has been buying and selling second-hand textile...
"Now we can see the Russian trend in international fashion. And Russian...
Occasions Elegance Wear
It is believed that by early 19th century, Varanasi weavers had moved away ...
Sonam and Paras Modi's Sva Couture is synonymous with head-turning...
Apparel/Garments | On 25th Apr 2017