The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Kate Spade & Co. on Thursday reported a loss of $9.1 million in its third quarter.
The New York-based company said it had a loss of 7 cents per share. Losses, adjusted for one-time gains and costs, were roughly breakeven on a per-share basis.
The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The clothing, handbag and accessories company posted revenue of $250.4 million in the period, beating Street forecasts. Analysts expected $244.1 million, according to Zacks.
Kate Spade shares have decreased 18 percent since the beginning of the year. The stock has dropped slightly more than 4 percent in the last 12 months.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.