Kate Spade & Co. (KATE) Tops Q3 EPS by 4c; Reaffirms
- Wall Street lower as oil snaps four-day rally
- Equinix (EQIX) Announces $3.6B Acquisition of Data Center Portfolio from Verzion (VZ)
- Trump Wants to Cancel New Air Force One Order with Boeing (BA)
- Roper Industries (ROP) to acquire Deltek in $2.8B Deal
- Twitter (TWTR) Engagement Appear to be Improving and MAUs are Solid - Analyst
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Kate Spade & Co. (NYSE: KATE) reported Q3 EPS of $0.13, $0.04 better than the analyst estimate of $0.09. Revenue for the quarter came in at $317 million versus the consensus estimate of $310.94 million.
Kate Spade & Co. sees FY2016 EPS of $0.63-$0.70, versus the consensus of $0.65. Kate Spade & Co. sees FY2016 revenue of $1.37-1.4 billion, versus the consensus of $1.38 billion.
Craig A. Leavitt, Chief Executive Officer of Kate Spade & Company, said: "In the third quarter, several macroeconomic factors, including a challenging retail environment and continuing tourist headwinds, impacted our results. That said, we are making solid progress on several strategies that are continuing to drive growth in our business, which is reflected in the consumer's strong response to our collections at full-price. We remain focused on the factors we can control as we continue to grow our business and execute our long-term strategy, maintaining our commitment to become a $4 billion business at retail."
George Carrara, President and Chief Operating Officer of Kate Spade & Company, added: "In the third quarter, we delivered direct-to-consumer comparable sales growth of 7% and top-line growth of 15%. While gross margin pressures have increased in our off-price business, we were able to offset these conditions through strong expense controls. We expect that these efforts, which enabled us to achieve Adjusted EBITDA margin expansion for the third quarter, will help us achieve our 2016 guidance. We remain confident in our long-term strategy."
For earnings history and earnings-related data on Kate Spade & Co. (KATE) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- AutoZone (AZO) Tops Q1 EPS by 5c; Comps Light of Views
- XTL Biopharma (XTLB) Posts Breakeven Q3 Loss
- Apple Watch sales to consumers set record in holiday week, says Apple's Cook
Create E-mail Alert Related CategoriesEarnings, Guidance, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!