Home / Knowledge / News / Apparel/Garments / Apparel marketer Kate Spade inks 20% hike in Q2FY16 sales
Apparel marketer Kate Spade inks 20% hike in Q2FY16 sales
06
Aug '15
NYSE listed and apparel marketer Kate Spade & Company inked a 20 per cent hike in year over year sales for the three months to July 4, 2015.

Net sales for the second quarter of fiscal 2016, excluding sales for wind-down operations, were $273 million, up $46 million or 20 per cent over the fiscal ago quarter.

Reported net sales for the quarter under review totaled $281 million, an increase of $15 million or 5.7 per cent from the comparable period of fiscal 2015.

For the reporting quarter, gross profit as a percentage of net sales was 61.6 per cent, excluding the impact of wind-down operations and 61.0 per cent on a reported basis.

“As against this, gross profit as a percentage of net sales was 58.6 per cent in the fiscal ago quarter, which included the unfavourable impact of the Kate Spade Saturday inventory liquidations,” Kate Spade added.

Second quarter of fiscal 2016 SG&A expenses amounted to $143 million, or 52.3 per cent of net sales, excluding the results of wind-down operations and expenses associated with streamlining activities.

On a reported basis, SG&A expenses increased to $154 million, or 54.8 per cent of net sales in the second quarter of fiscal 2016 from $146 million, or 54.9 per cent of net sales in the previous fiscal's second quarter.

“Interest expense, net declined to $5 million in the second quarter of fiscal 2016, compared to $6 million in the second quarter of fiscal 2015,” the apparel marketer informed.

Net debt too decreased to $171 million as on July 4, 2015 from $232 million at the end of the second quarter of fiscal 2015, primarily due to the prepayment of the Lucky Brand seller note.

For the second quarter of fiscal 2016, on a GAAP basis, income from continuing operations was $9 million, or $0.07 per share.

This compares with a loss from continuing operations of $14 million, or $0.11 per share in the prior fiscal second quarter.

Adjusted diluted earnings per share from continuing operations in the second quarter of 2015 stood at $0.08 as against $0.05 per share in the second quarter of fiscal 2015.

CEO Craig Leavitt said, "Our second quarter results demonstrate our focus on building a diverse business model that will drive sustainable, long-term growth.”

“Our strategy is centered on key factors that differentiate Kate Spade & Company, including our lifestyle brand vision, partnered approach to expansion and efforts to build quality of sale,” he too added.

“Our success with new product introductions shows that we are resonating with our existing customers, as well as attracting new customers to our brand across our four category pillars,” Leavitt observed. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Indian textile & apparel exports fall 13% in Jan 2018

Textiles | On 17th Feb 2018

Indian textile & apparel exports fall 13% in Jan 2018

A decline of 13 per cent year-on-year has been observed in the...

Brazilian cotton prices move up in first fortnight

Textiles | On 17th Feb 2018

Brazilian cotton prices move up in first fortnight

Cotton prices rose in Brazil in the first fortnight of February, as...

Courtesy: OrganoClick

Textiles | On 17th Feb 2018

OrganoClick introduces OrganoTex for water repellency

OrganoClick has introduced OrganoTex, a textile impregnation product...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Urmil Arya

Sushila International, a well established textile organisation established ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paolo Ocleppo
Sandvik Hyperion

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

Akta Adani
India Boulevard

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

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Aditi Somani
Aditi Somani

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

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

February 2018

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
70.3%
No
12.9%
Skip
16.8%

Total Votes: 101

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
63.4%
No
29.7%
Skip
6.9%

Total Votes: 101

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
88.1%
No
8.9%
Skip
3.0%

Total Votes: 101

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
83.2%
No
7.9%
Skip
8.9%

Total Votes: 101


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