Kate Spade & Co's net sales up 14.5% in Q1 2016

06 May '16
2 min read
Courtesy: Kate Spade & Co
Courtesy: Kate Spade & Co

Kate Spade & Company, owner of two globally recognised lifestyle brands – Kate Spade New York and Jack Spade, reported a rise of 14.5 per cent in its net sales to $274 million in the first quarter of 2016, ending April 2, as compared to $255 million in the corresponding period last year.

Kate Spade North America reported net sales of $219 million in the first quarter of 2016, a rise of 17.1 per cent as compared to $196 million in the previous year. Net sales for Kate Spade International stood at $49 million in this period as compared to $47 million, a rise of 3.2 per cent.

Adelington Design Group reported net sales of $7 million in Q1 of 2016, a rise of 23.8 per cent as compared to the corresponding period of 2015.

Commenting on the results, Craig Leavitt, CEO of Kate Spade & Company said, “Our first quarter results reflect the stronger, refocused Kate Spade & Company and underscore the effectiveness of our differentiated strategy.”

“We continue to focus on our powerful multi-channel approach, especially fueled by the robust performance of our global e-Commerce business, which helped drive our industry-leading comparable sales growth of 19 per cent,” he added.

The company expects net sales in the range of $1.38-1.41 billion in the full-year 2016. (MCJ)

Fibre2Fashion News Desk - India

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