Kate Spade Two Quarter Net Loss Sharply Reduced

< p > Kate Spade & Co. chief operating officer George Carrara said in the analyst conference that sales growth in the second half of this year will slow down to high digits, compared with the first half sales growth of 30%. Due to the slower growth of the sub line brand Kate Spade Saturday than expected, the company also postponed its 2016 profit margin target to 2017. < /p >
Kate Spade & Co. fell 23.75% to 29.64 dollars when the deadline was p to 12:43pm. < /p >
< p > US < a href= "http:// www.sjfzxm.com/news/index_c.asp" > light luxury fashion brand < /a > Kate Spade & Co. today's two quarter results surpassed market expectations, pushing its share price up 9.8% in the pre trading session on Tuesday. < /p >
< p > Kate Spade & Co. achieved a net sales of US $266 million in the two quarter ended July 5th (excluding Juicy Couture and Lucky Brand), which was higher than the market forecast of US $238 million, a 48.7% increase over the same period last year of 179 million, and a 30.4% increase in the same store sales, which is far better than a href= "http://" and "market forecast" 16.7%. < /p >
Quarterly net loss narrowed to $4 million 400 thousand from $43 million 140 thousand in the same period last year. The loss per share was reduced from $0.36 to $0.03. Continuing business losses also fell from 13 million 980 thousand US dollars last year to US $13 million 980 thousand, adjusted earnings per share of us $0.05, and market expectations were US $0 and US $-0.08 respectively over the same period last year. At the operating profit level, it made a profit of 9 million 930 thousand dollars, compared with a loss of 3 million 770 thousand US dollars in the same period last year. < /p >
< p > > a href= "http://? Www.sjfzxm.com/news/index_c.asp" > Kate Spade < /a > Co. chief executive Craig A. A. said in the earnings report that "although the retail environment is more of a deep discount, the growth of sales in North America and the international sector is strong, especially in the two quarter." Sales in North America rose by 54.6% to 208 million dollars a year, and international sales rose 53.6% to 49 million 230 thousand dollars. As of the end of the season, the group has 96 retail specialized stores and 51 discount stores in the North American market, and has 39 specialized retail stores, 11 discount stores and 48 franchise stores in the international market. < /p >
< p > the gross profit margin in the two quarter dropped sharply from 320 basis points to 58.6%, compared with 61.8% in the same period last year, due to the excessive inventory of Kate Spade Saturday listed last year and the excessive purchase of raw materials. SG&A charges increased by 27.8% to $146 million over the same period. < /p >
The core earnings EBITDA after adjustment for the two quarter of P reached US $32 million, which is more than four times the 7 million 330 thousand US dollars in the same period last year. The group therefore raised the figure for the whole year to $1.2-1.3 billion, which failed to meet the market expectations of $140 million, originally expected to be 1.15-1.25 billion, and the adjusted core profit margin of EBITDA is expected to rise by 50 basis points. < /p >
< p > to the deadline, the Kate Spade & Co. rose narrowed to 5.45% before the $40.99, which rose 1.36% to 38.87 dollars on Monday, and this year the total increase has reached 21.5%. < /p >