3. Warns online sales growth to allow them to slow this year
* 1st-qtr sales events up 14 pct vs a minimum 30 pct in prior nearly four qtrs
* Same-store sales, bar online, up 6 pct compared to est. 8 pct
* Provides fall as much as 10 pct
May perhaps well 7 (Reuters) - Handbag the creator Kate Spade & Co
noted its slowest sales growth all over nearly two years and warned
of online sales, a big contributor to allow them to its same-store sales
growth, surely could slow this year as the company appeals to back on
Shares of Kate Spade, whose sales grew from a scorching pace
of at least 30 % in the prior four quarters, decreased as much
Kate Spade has been concentrating on its luxury brand, kate spade
ny, and winding down its lower-margin Kate Spade Saturday
The company discussed it was partnering with Exclusive Names
International, which manages Ralph Lauren stores in Latin
America and now has a joint venture with michael Michael Kors phone wristlet Holdings Ltd
, to expand the kate spade new york brand in the region.
Kate Spade also said it would cease to operate directly in
Brazil to was evaluating the business in partnership with
Kate Spade gets more than three-quarters from the revenue from
Comparable sales at all the company's brick-and-mortar stores
rose six percent in the first quarter finished April 4. Analysts on
along with the had expected an 8 p . c rise, according to research
Same-store sales events rose 9 percent, including on-line sales.
Kate Spade needs to bolster marketing and work harder on
preparing a "compelling brand proposition, " Neil Saunders, chief
executive of sales research firm Conlumino, wrote waiting around note.
Although online sales are hoped for to slow, Kate Spade's
initiatives to expand retail stores will help the site meet its 2015 sales
sorry victim, Monness, Crespi, Hardt & C analyst James Chartier said.
The actual handbag maker reaffirmed its 2015 sales forecast of $1. 1 . 5
Kate Spade reported a first-quarter loss of $55. 2 million,
or maybe a 43 cents per share, then a year-earlier profit, as
it was a little while until a $26 million charge to allow them to terminate contracts with a
Excluding offerings, the company earned 3 cents in each share.
Revenue rose 14 p . c to $255. 3 million.
Pros on average had expected earnings of two cents per
share and sales events of $244. 9 million, based on reports by Thomson Reuters
Kate Spade's reveals were down 7. 9 p . c at $30 in late
morning dealing on the New York Stock Exchange.
The stock home-based trades at a multiple of 48. 3 times forward
earnings, while rivals Erika Kors trades at 13. step three and Coach Inc
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