Fashion retailer Kate Spade’s net sales dips 1.2% | Retail News USA
Home » News » Retailers News » Fashion Retailer Kate Spades Net Sales Dips 1 2

Fashion retailer Kate Spade’s net sales dips 1.2%


READ MORE ON Fashion RetailerKate SpadeRetailer News USARetail Information

Kate Spade & Company

Image Courtesy:

Kate Spade & Company, a US-based fashion retailer of women’s and men’s apparels and accessories, has announced the financial results for the first quarter ended April 1, 2017. The company’s net sales stood at US $ 271 million, down by 1.2 per cent compared to corresponding quarter last year.

In the reporting period, direct-to-consumer comparable sales of the fashion brand declined 2.4 per cent. Selling, general & administrative expenses totalled US $ 165 million as against US $ 152 million in the first quarter of last year. Gross profit of the company amounted to US $ 171.4 million, which was US $ 169.4 million in the previous year. It operating income declined in the mentioned period to US $ 6.8 million from prior year’s US $ 17.7 million. Net income in the first quarter stood at US $ 1.35 million, down from US $ 11.6 million.

Region wise, Kate Spade North America net sales were US $ 217 million which noted a down surged of 0.6 per cent. Whereas, Kate Spade International net sales totalled US $ 49 million.

Also ReadKate Spade sees 9.8% growth in fourth quarter

Craig A. Leavitt, Chief Executive Officer of Kate Spade & Company said, “Despite a challenging retail environment and the later Easter holiday, we achieved yet another quarter of double-digit eCommerce comparable sales growth, which helped offset softness in bricks and mortar stores.  Against this backdrop, we delivered strong gross margin expansion while working to drive profitable growth across our categories and channels. At the same time, our Board of Directors, together with management, continue to evaluate strategic alternatives to further maximize value for our shareholders.” 


Have some news? Let us know on

Comments are closed.

Recommended by Apparel Resources

KIODA to enter Indian market

Malaysian retail chain KIODA, which pledges to provide the fans with quality products at affordable price, has joined hands with Franchise India to...

Pepe Jeans to enhance presence in India

Pepe Jeans is planning to increase its store count in India. "Our target is to open 50 stores in the Indian market, which...

Gerry Weber’s Retail Head departs

Norbert Steinke, Chief Retail Officer of Gerry Weber and Hallhuber, has resigned from his post with immediate effect. The 56-year-old opted to resign...

El Corte Inglés’ Marketing Chief to quit

Juan José Sáez-Torres, who has been serving Spanish-origin department store chain El Corte Inglés as Marketing Director, has announced to step down in... invests £ 315.5 million in Farfetch

A strategic deal has been inked between Farfetch, a global fashion e-commerce platform and, one of China's biggest e-commerce companies, to help...

Nordstrom Rack to open in Wisconsin (US)

Nordstrom, US-based leading fashion specialty retailer, has announced to open a Nordstrom Rack store at Bayshore Town Center in Glendale, Wisconsin, USA. The...

Sears Canada files for bankruptcy

Sears Canada Inc. has announced that Sears Canada and certain of its subsidiaries have applied in Ontario Superior Court of Justice (Commercial List)...

Old Navy opens maiden store in Vietnam

Fashion brand Old Navy has opened its first store in Vietnam. The store, which is located on the lower B1 floor of Vincom...

The Children’s Place to open stores across Southeast Asia

The Children’s Place, the largest pure-play children’s speciality apparel retailer in North America, is all set to unveil new stores across Southeast Asia....

Burberry’s Chairman to depart

Sir John Peace, who has been the Chairman of UK-based global luxury brand Burberry since 2002, is likely to depart from the company...