- 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.
at CNBC.com (Nov 13, 2014)