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Are you interested in learning about high end haute couture, prêt-à-porter and avant-garde? We hope so because you will learn about these topics as well as find style reports about emerging designers, new lifestyle brands, cutting edge fabrics, and much more. Anything relevant to the fashion industry is open for discussion.

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Wednesday, August 5, 2015

Kate Spade & Company Second Quarter 2015 Financials

Kate Spade & Company announced today results for the second quarter ended July 4, 2015.

Net sales for the second quarter of 2015, excluding sales for wind-down operations, were $273 million, an increase of $46 million, or 20.1% compared to the second quarter of 2014, adjusting 2014 net sales for wind-down operations and excluding changes in foreign currency exchange rates and 2015 strategic initiatives.  Refer to the table entitled "Reconciliation of Non-GAAP Net Sales Information" for a reconciliation from GAAP results.

Reported net sales for the second quarter of 2015 were $281 million, an increase of $15 million, or 5.7%, from the comparable 2014 period.

Summary:

- Second quarter direct-to-consumer comparable sales growth of 10% and 12% excluding eCommerce

- Second quarter net sales increased 20%, adjusting for previously announced wind-down operations and excluding certain non-comparable items in 2014, or 6% on a reported basis

- Second quarter Adjusted EBITDA of $41 million, or 15% of sales, and adjusted diluted earnings per share of $0.08, each excluding wind-down operations

- Increases direct-to-consumer comparable sales growth guidance to a range of 9% - 11%

- Raises low end of full year Adjusted EBITDA range, with revised guidance of $190 million to $200 million, excluding wind-down operations

You can read the full report at the Kate Spade & Company website.

Learn more about apparel industry financials here on Apparel Search.  If you are specifically interested in reporting from clothing retailers, you can visit the fashion retail financials section.

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Essentially, we cover most of the topics you would find in an industry journal as well as other topics that you would discover in a typical fashion magazine.

Fashion is a multi-billion-dollar industry that has considerable impact on the way ordinary people dress and present themselves. Fashion is trend-driven and our fashion blog by Apparel Search provides a riveting way to follow and oversee these fast-paced trends. The blogoshepere has tons of style sites for your review. We thank you for taking the time to view ours.

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