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August 12, 2014
10:05 EDTKATEKate Spade says Juicy Couture wind-down 'substantially complete'
Sees FY14 CapEx $140M. Sees FY14 gross margin down 125-175 bps from FY13. Sees around 80 new planned store openings from FY13. Sees interest expense $32M-$37M for FY14, as well as normalized tax rate of 38%-40%. Expects to achieve an adjusted EBITDA Margin target of 25% for the former Kate Spade Segment, but as part of its annual business planning process, the company says it is assessing whether any short-term adjustment to the 2016 timeframe is warranted. If a short-term adjustment is even necessary, the company expects the most likely adjustment would be a shift to 2017. Says currently pursuing various partnerships to meaningfully improve operating leverage. Sees launch of U.K. e-commerce site in Q4. Comments from slides that are being presented on the Q2 earnings conference call.
News For KATE From The Last 14 Days
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April 23, 2015
10:06 EDTKATEKate Spade May call activity attributed to takeover chatter
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April 20, 2015
08:18 EDTKATEMichael Kors downgraded to Neutral with $70 target at Mizuho
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April 14, 2015
09:20 EDTKATEKate Spade's department store sales strong during Q1, says OTR Global
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