The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
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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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