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Kate Spade Reports 3Q Loss

Kate Spade & Co. on Thursday reported a loss of $9.1 million in its third quarter.
Kate Spade spring/summer 2014 | Source: Kate Spade
By
  • Associated Press

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.

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