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 Wednesday reported third-quarter profit of $29.6 million.
On a per-share basis, the New York-based company said it had profit of 23 cents. Earnings, adjusted for pretax gains and to account for discontinued operations, came to 13 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The clothing, handbag and accessories company posted revenue of $316.5 million in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $334.1 million.
ADVERTISEMENT
Kate Spade expects full-year earnings in the range of 63 cents to 70 cents per share, with revenue in the range of $1.37 billion to $1.4 billion.
Kate Spade shares have decreased 8 percent since the beginning of the year. The stock has fallen 11 percent in the last 12 months.
Related Articles:
[ Kate Spade Founders Talk New Accessories BrandOpens in new window ]
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.