More on Kate Spade's Q1

|About: Kate Spade & Company (KATE)|By:, SA News Editor

Kate Spade (KATE) reports a solid 22% gain in direct-to-consumer sales during Q1.

Comp sales rose 43% from a year ago as the company underwent a major re-alignment with its core brands.

Gross profit rate fell 210 bps to 55.3% during the period with promotional activity higher.

Full-year 2014 EBITDA guidance of $115M-$125M is reaffirmed.