More on Kate Spade's Q1

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.

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