Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Fashion / Kenneth Cole achieves Comparable Store sales increase of 3.4%
Kenneth Cole achieves Comparable Store sales increase of 3.4%
07
May '08
Kenneth Cole Productions Inc reported financial results for the quarter ended March 31, 2008. The Company reported first quarter net revenues of $122.5 million and earnings per fully-diluted share of $0.04, both in line with its recent guidance.

Consumer Direct revenues for the quarter were $38.5 million, an increase of 4.3%, reflecting both a 3.4% comparable store sales gain and revenues associated with new stores.

Licensing revenues were up 4.4% to $9.9 million, despite the effect of the Company's transition of men's sportswear from a licensing model to a wholesale model. The Company's wholesale business, however, saw softness in the quarter with a revenue decline of 10.7% to $74.1 million.

The Company's first quarter gross margin rose to 41.0% versus the year-ago rate of 40.6%, driven primarily by a shift in revenue mix toward Licensing and Consumer Direct.

SG&A, as a percentage of revenues, increased to 40.1% from 37.3% in the first quarter of 2007 due to increased marketing expenses associated with the launch of the Company's 25th anniversary campaign, its continuing investment in men's sportswear development, and deleveraging that resulted from the wholesale shipment decline.

The Company noted that, excluding the incremental marketing and sportswear expenses, it had reduced operating costs versus year-ago levels.

The Company's consolidated inventories decreased 2.1% to $45.8 million at March 31, 2008. The Company noted that inventory aging had improved versus the prior year. Consumer Direct inventories increased 8.6% to $23.8 million to accommodate same store sales increases and new stores, while Wholesale inventories decreased by 11.5% to $22.0 million.


Must ReadView All

Courtesy: Pexels

Textiles | On 19th Sep 2018

Punitive PRC tariffs on US goods has extra 5% on textiles

Responding to Washington’s latest duty increase in a dispute with...

Courtesy: Tecnorama

Textiles | On 19th Sep 2018

'Reliability & excellent quality are Tecnorama’s USP'

The complete reliability and excellent quality of Tecnorama systems...

Courtesy:  Stanislav Kondratiev on Unsplash

Apparel/Garments | On 19th Sep 2018

AAFA questions US tariffs on $200 bn Chinese goods

The American Apparel & Footwear Association (AAFA) has questioned...

Interviews View All

Siddharth Biyani, Mangalam Industries Pvt Ltd

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Stefan Warnaar, Peak to Plateau

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Rashi Menda, Zapyle

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Shivani Swamy,

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Carolin Russ,

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth 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

Leave your Comments


September 2018

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

news category


Related Categories:

Advanced Search