Home / Knowledge / News / Apparel/Garments / Fifth & Pacific adjusted EBITDA shoots up 37.4%
Fifth & Pacific adjusted EBITDA shoots up 37.4%
28
Feb '14
Fifth & Pacific Companies, Inc. announced results for the fourth quarter of 2013. For the fourth quarter of 2013 on a GAAP basis, income from continuing operations, which includes the Juicy Couture Brand and excludes the Lucky Brand, was $161 million, or $1.29 per diluted share, compared to income from continuing operations of $52 million, or $0.42 per share, for the fourth quarter of 2012. Lucky Brand Jeans results are now reported as discontinued operations, after successfully closing on that business on February 3, 2014.
 
Highlights: 
- Reports full year 2013 Kate Spade adjusted brand EBITDA of $130 million, compared to $95 million in 2012, a 37.4% increase
- Reports Q4 Kate Spade direct to consumer comparable sales growth of 30%
- Reports net debt of $264 million
- Ends the year with an NOL balance in excess of $450 million, inclusive of the impact of the sale of Lucky Brand
 
Net sales for the fourth quarter of 2013, which includes Juicy Couture and excludes Lucky Brand, were $427 million, an increase of $78 million, or 22.3%, from the comparable 2012 period. Adjusted diluted earnings per share from continuing operations for the fourth quarter of 2013 was $0.15, compared to $0.04 for the fourth quarter of 2012.
 
Adjusted EBITDA, net of foreign currency transaction adjustments, which includes Juicy Couture and excludes Lucky Brand, was $65 million for the fourth quarter of 2013 and $48 million for the fourth quarter of 2012.
 
For the full year of 2013, the Company recorded income from continuing operations, which includes Juicy Couture and excludes Lucky Brand, of $74 million, or $0.60 per share, compared to a loss from continuing operations for the full year of 2012 of ($70) million, or ($0.64) per share. 
 
Adjusted diluted loss per share from continuing operations in the full year of 2013 was ($0.15), compared to ($0.31) in the full year of 2012. Net sales for the full year of 2013 were $1.265 billion, an increase of $222 million, or 21.2 %, from the comparable 2012 period.
 
William L. McComb, Chief Executive Officer of Fifth & Pacific Companies, Inc. said: "Full year 2013 Kate Spade adjusted brand EBITDA was $130 million, compared to $95 million in 2012, reflecting a sizeable 37.4% increase. 


Must ReadView All

Textiles | On 2nd May 2016

Maharashtra to develop Amravati as textile city

For years, Amravati in Mahasrashtra has been infamous for farmers’...

Cité de la Mode et du Design, Spinexpo's Paris venue.

Textiles | On 2nd May 2016

Spinexpo expands in Europe with debut fair in Paris

Spinexpo, an international trade exhibition for fibres, yarns,...

Apparel/Garments | On 2nd May 2016

UK online delivery volumes match IMRG Q1forecast

Online retail delivery volumes were up 12.7 per cent year-on-year in...

Interviews View All

C Kamatchisundaram
Voltas Textile Machinery Division

How the demand for textile machines in India? How is the gap between...

Shakil Ahmed
Colorlines Clothing India Private Limited

How do companies into supply chain financing obtain their funds?

John Patrick
Organic by John Patrick

What have you got to say about green washing in the fashion sector? How do ...

Johan Berlin
InvestKonsult Sweden AB

<i><b>Investkonsult Sweden AB has been buying and selling second-hand...

Brian J. McCarthy
TechniTex Faraday Limited

Mr. Brian J. McCarthy is the Director of TechniTex Faraday Limited Sector, ...

Kerem Durdag
Biovation II LLC

<b><i>Kerem Durdag, CEO, Biovation II LLC, provides an insight into future ...

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