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.

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