American apparel retailer Kate Spade has reported increase in sales in the fourth quarter of the current fiscal.
In the period under review, Kate Spade’s sales at stores open for at least 14 months, including online sales, zoomed 14 per cent. The retailer has managed to do better than analysts’ estimation of 11.4 per cent surge. Net sales increased by 7.6 per cent to US $ 429 million, missing the average analyst estimation of US $ 441.6 million. The retailer expects 2016 same-store sales to surge by low to mid-teens on a percentage basis. Industry experts forecast that on an average it will grow by 10.6 per cent.
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In a separate development, it has been observed that Kate Spade is focusing on home décor, children’s products, and investing in online strategies. This has certainly helped the retailer do well in the market and note higher sales. Additionally, it is closing down its underperforming Kate Spade Saturday and Jack Spade menswear brands, and is further making efforts to strengthen the global presence of the Kate Spade New York label.
Kate Spade is a fashion design house founded as Kate Spade Handbags in January 1993, by Kate Spade.
