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.
A double-digit sales increase and improved margins have helped US retailer Kate Spade & Co to narrow its loss during the third-quarter....
This report provides information, analysis and valuable insight on developments relating to the global apparel industry in the following categories: acquisitions, divestments and mergers; corporate so...
Apparel giant Kate Spade & Company, formerly Fifth & Pacific Companies, has confirmed the appointment of Thomas Linko as chief executive officer....
Consumers were spoilt for choice with the introduction of various international labels. COS, the more-expensive arm of H&M Hennes & Mauritz, opened its first store at ION Orchard in 2013. Kate Spade S...
- 2014: Year in review - Sourcing winners and losers
- Bangladesh: Raising the bar on apparel exports?
- 2014: Year in review - Brand winners and losers
- 2014: Year in review - Retail winners and losers
- Bangladesh: The business benefits of compliance
- Report urges overhaul of Cambodia factory safety
- Bangladesh factory improvements “will take years”
- Bangladesh knitting worker killed by faulty lift
- Tommy Hilfiger launches solar-powered jacket
- North Face debuts locally-grown "backyard" hoodie