Welcome to Fibre2fashion.com    
fibre2fashion
Radianza
Textile | Apparel |  Fashion | Technology | Technical Textiles  | Corporate | Associations Android app on Google Play Android app on Google Play
 
Home >> News
 

Fifth & Pacific adjusted EBITDA shoots up 37.4%

February 28, 2014 (United States Of America)

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. 

 1  2 

More Liz Claiborne Inc News...
More Apparel/Garments News - United States Of America...

 
Email this
Story
Print this
Story
Letter to
Editor
Sign Up for
News Letter
Search
Companies
 
 
  RSS