US: Fifth & Pacific happy with trends as profit climbs
- Q4 earnings reach US$185.2m
- Net sales up 22%
- Kate Spade sales jump 48%
Sales of Fifth & Pacific's Kate Spade division jumped 48%
Apparel giant Fifth & Pacific Companies has said it is happy with the business trends in its first-quarter as it booked an increase in end of year earnings.
The performance of its core Kate Spade brand, which accounts for around 60% of group sales, drove earnings for Fifth & Pacific in the quarter ended 28 December. Net profit climbed to US$185.2m from $57m a year earlier.
The company, which will be known as Kate Spade & Co from tomorrow (25 February), recorded a net sales increase of 22% to $426.9m.
Revenues of its Kate Spade division jumped 48% to $256m in the quarter, while same-store sales were up 30%.
"Even with all of the bad weather, I'm happy with the business trends in the first quarter-to-date, which are consistent overall with our expectations," said CEO Craig Leavitt, who takes over from the outgoing William McComb today.
The company re-affirmed its previously guided range of $115m to $125m for full-year adjusted EBITDA.
Kate Spade & Company (KATE) - Financial and Strategic SWOT Analysis Review provides you an in-depth strategic SWOT analysis of the company’s businesses and operations. The profile has been compiled by...
This report analyses some of the latest developments and innovations in the global apparel industry, including: dyes and inkjet printing inks; environmentally friendly apparel; fabric treatments; new ...
- When will Gap get back on track?
- Software solutions enhance speed and visibility
- Portugal footwear makers underpin industry growth
- Supply chain weighs on Kering's green footprint
- Bangladesh factory safety progressing slowly
- Q1 apparel results in brief: Brown Shoe Co, Belk
- China to reduce apparel import taxes
- Indonesian textile sector sees 6,000 lay-offs
- Vietnam garment staff return after faintings
- New black dye meets sustainability standards