Kate Spade & Company Reports First Quarter 2016 Results

Gross profit as a percentage of net sales was 61.8% for the first quarter of 2016.  Gross profit as a percentage of net sales was 62.0%, excluding the impact of wind-down operations, and 60.6% on a reported basis, for the first quarter of 2015.

Selling, general & administrative expenses were $152 million, or 55.3% of net sales in the first quarter of 2016. Selling, general & administrative expenses in the first quarter of 2015 were $137 million, or 57.4% of net sales, excluding the results of wind-down operations, expenses associated with streamlining activities and a $26 million charge to terminate contracts with the Company's former joint venture partner in China. Reported selling, general & administrative expenses for the first quarter of 2015 were $192 million, or 75.1% of net sales.

Income (loss) from continuing operations on a reported basis was $11 million, or $0.08 per diluted share in the first quarter of 2016, compared to $(54) million, or $(0.42) per diluted share, in the first quarter of 2015. Diluted earnings per share from continuing operations in the first quarter of 2016 using a normalized tax rate were $0.05, compared to adjusted diluted earnings per share of $0.03, excluding a loss of $(0.02) related to results of wind-down operations, in the first quarter of 2015.

Segment Highlights

• Kate Spade North America net sales for the first quarter of 2016 were $219 million, an increase of $32 million, or 17.1% compared to the first quarter of 2015, excluding sales for wind-down operations. Reported net sales for the first quarter of 2015 were $196 million. Kate Spade North America Segment Adjusted EBITDA was $25 million (11.2% of net sales) for the first quarter of 2016 compared to Segment Adjusted EBITDA Excluding Wind-Down Operations of $20 million (10.9% of adjusted net sales) for the first quarter of 2015. Kate Spade North America Segment Adjusted EBITDA, including results of wind-down operations was $18 million (9.2% of net sales) for the first quarter of 2015.
• Kate Spade International net sales for the first quarter of 2016 were $49 million, an increase of $2 million, or 3.2% compared to the first quarter of 2015, excluding sales for wind-down operations. Reported net sales for the first quarter of 2015 were $52 million and $47 million excluding wind-down operations, both of which included $6 million in direct-to-consumer sales from our Hong Kong, Macau and Taiwan operations prior to the transition to a joint venture during the quarter. Kate Spade International Segment Adjusted EBITDA was $9 million (17.5% of net sales) for the first quarter of 2016 compared to Segment Adjusted EBITDA Excluding Wind-Down Operations of $6 million (13.6% of adjusted net sales) for the first quarter of 2015. Kate Spade International Segment Adjusted EBITDA, including results of wind-down operations was $5 million (9.5% of net sales) for the first quarter of 2015.
• Adelington Design Group net sales for the first quarter of 2016 were $7 million, an increase of $1 million or 23.8% compared to the first quarter of 2015, excluding sales for wind-down operations. Reported net sales were $7 million for the first quarter of 2015. Adelington Design Group Segment Adjusted EBITDA was $2 million (31.8% of net sales) in the first quarter of 2016 compared to Segment Adjusted EBITDA Excluding Wind-Down Operations of $1 million (22.5% of adjusted net sales) for the first quarter of 2015. Adelington Design Group Segment Adjusted EBITDA, including results of wind-down operations was $2 million (23.1% of net sales) for the first quarter of 2015.

Store Count Information

2016 GUIDANCE

Net Sales	$1.385B – $1.410B
Adjusted EBITDA *	$257M – $282M
Diluted Earnings Per Share **	$0.70 – $0.80
DTC Comparable Sales Growth	low to mid-teens growth
Capital Expenditures	~$65M – $70M
Planned Net New Store Openings (Company Owned & Partners)	~40 – 45
2015 Year End NOL Balance	$739M Werbung Mehr Nachrichten zur Kate Spade Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 10:57 - PR Newswire Fidelity Special Values Plc - Monthly Factsheet 10:32 - PR Newswire Fidelity Emerging Markets Ltd - Monthly Factsheet 07:30 - PR Newswire Boeing Company - First Quarter Financial Results Solarboom 2024:    5 Gründe die für diese Aktie sprechen… weiterlesen» Anzeige wo-site-teaser-box-16746_site-teaser-box_2024-04-24_08%253A00%253A00_2024-04-25_09%253A00%253A59