Home / Knowledge / News / Apparel/Garments / Kate Spade & Company Q1 net sales soar 33.5%
Kate Spade & Company Q1 net sales soar 33.5%
14
May '14
Kate Spade & Company announced results for the first quarter of 2014. For the first quarter of 2014 on a GAAP basis, loss from continuing operations, which includes the continuing operations of the Juicy Couture Brand and excludes Lucky Brand, was ($55) million, or ($0.44) per share, compared to a loss from continuing operations of ($40) million, or ($0.33) per share, for the first quarter of 2013.
 
Highlights: 
-Q1 Kate Spade segment direct to consumer comparable sales growth of 22% excluding the benefit of a 14th week in the quarter
-Kate Spade segment sales increased $76 million, or 54%, to $217 million in Q1 2014 compared to Q1 2013 including the benefit of a 14th week in the quarter
-Q1 2014 comparable adjusted EBITDA of $17 million compared to $8 million for the first quarter of 2013
-Completes refinancing of High Yield Notes, resulting in annualized cash interest savings in excess of $20 million
-Reaffirms full year 2014 adjusted EBITDA guidance of $115 million - $125 million
 
Net sales for the first quarter of 2014, which includes the continuing operations of Juicy Couture and excludes Lucky Brand, were $328 million, an increase of $82 million, or 33.5%, from the comparable 2013 period. Adjusted loss per share from continuing operations for the first quarter of 2014 was ($0.06), compared to ($0.16) for the first quarter of 2013.
 
Adjusted EBITDA, net of foreign currency transaction adjustments, which includes the continuing operations of Juicy Couture and excludes Lucky Brand, was $17 million for the first quarter of 2014 and ($4) million for the first quarter of 2013.
 
Net sales on a comparable basis that excludes Juicy Couture and Lucky Brand were $224 million in first quarter of 2014, an increase of $67 million, or 42.9%, from the comparable 2013 period.
 
Comparable adjusted EBITDA, net of foreign currency transaction adjustments, which excludes Juicy Couture and Lucky Brand, was $17 million for the first quarter of 2014 and $8 million for the first quarter of 2013.
 
Craig A. Leavitt, Chief Executive Officer of Kate Spade & Company, said, "Overall, Kate Spade & Company's performance in the first quarter of 2014 continued to be very strong. For total Kate Spade & Company, comparable net sales were $224 million in the first quarter of 2014, a 43% increase to last year. The Kate Spade segment performed well in the first quarter, delivering an increase of $76 million or 54% to last year, including the benefit of a 14th week in the quarter, with growth across all geographies and categories.  Direct to consumer growth was fueled by both door expansion, including two global flagships in Houston and Tokyo, and strong direct to consumer comparable salesgrowth of 22%, excluding the impact of the extra week.
 
Click here to view full results.
 

Kate Spade & Company


Must ReadView All

Courtesy: The White House

Textiles | On 21st May 2018

China, US put trade war on hold

Following weeks of uncertainty over imposition and counter-imposition ...

Equate posts best Q12018 results since inception

Textiles | On 21st May 2018

Equate posts best Q12018 results since inception

Equate Group's first quarter results for 2018 are the best since its...

Over 60% retailers already have IoT platforms: IDC

Apparel/Garments | On 21st May 2018

Over 60% retailers already have IoT platforms: IDC

Retail organisations are adopting IoT platforms and more than 60 per...

Interviews View All

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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


May 2018

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

news category


Related Categories:

Advanced Search