Home / Knowledge / News / Apparel/Garments / Revenues leap 48.7% at Kate Spade in Q2
Revenues leap 48.7% at Kate Spade in Q2
13
Aug '14
NYSE-listed, Kate Spade & Company which manages fashion brands like, kate spade new york, Kate Spade Saturday and Jack Spade reported a 48.7% year-on-year jump in net sales from continuing operations in the second quarter of 2014.

Net sales from continuing operations at Kate Spade & Company for the second quarter of 2014 were $266 million, a rise of $87 million or 48.7% from the second quarter of 2013. Kate Spade said this reflects increases in the Kate Spade North America and Kate Spade International segments.

During the second quarter of 2014, Kate Spade disaggregated its former Kate Spade reportable segment into two reportable segments, Kate Spade North America and Kate Spade International.

However, gross profit as a percentage of net sales decreased to 58.6% in the second quarter of 2014, compared to 61.8% in the comparable 2013 period, reflecting the impact of off-price sales margin, primarily driven by the Kate Spade Saturday brand, due to excess inventory and raw materials disposal that arose in connection with balancing consumer demand with inventory buys in the launch year.

Selling, general & administrative expenses (SG&A) went up by $32 million, or 27.8%, to $146 million in the second quarter of 2014 compared to the second quarter of 2013. SG&A as a percentage of net sales was down to 54.9% in the second quarter of 2014, compared to 63.9% in the second quarter of 2013.

Operating income stood at $10 million or 3.7% of net sales in the second quarter of 2014 compared to operating loss of $4 million or 2.1% of net sales in the second quarter of 2013.

Other income was $0.2 million in the second quarter of 2014, compared to a loss of $0.8 million in the second quarter of 2013, and included foreign currency transaction gains and losses and equity in losses of its equity investee.

Interest expense fell to $6 million in the second quarter of 2014, compared to $12 million in the second quarter of 2013. Kate Spade made a provision for Income Taxes at $1 million in the second quarter of 2014.

Loss from continuing operations in the second quarter of 2014 stood at $14 million, or a negative $0.11 per diluted share, against a loss of $24 million, or a negative $0.20 per share in the second quarter of 2013.

Adjusted earnings per share from continuing operations in the second quarter of 2014 were $0.05, compared to adjusted loss per share of $0.08 in the second quarter of 2013.

Net loss in the second quarter of 2014 stood at $4 million, which is inclusive of income related to discontinued operations of $10 million, compared to net loss of $43 million, which is inclusive of a loss related to discontinued operations of $20 million in the second quarter of 2013.

This resulted in a net loss per share of $0.03 in the second quarter of 2014, compared to a loss per share of $0.36 in the second quarter of 2013.

Fibre2fashion News Desk - India


Must ReadView All

Egypt’s textile exports increase 3% in 10 months: TEC

Textiles | On 21st Nov 2017

Egypt’s textile exports increase 3% in 10 months: TEC

Exports by Egypt’s Textile Export Council (TEC) between January and...

UKFT turns sector skills body for UK fashion, textile sector

Textiles | On 21st Nov 2017

UKFT turns sector skills body for UK fashion, textile sector

The UK Fashion & Textile Association (UKFT) recently announced at a...

Pakistan’s textile exports up 7.72% in July-Oct ’17

Textiles | On 21st Nov 2017

Pakistan’s textile exports up 7.72% in July-Oct ’17

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Nitesh Mittal

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

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Giorgio Mantovani
Corman S.p.A

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Akta Adani
India Boulevard

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

November 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search