Kate Spade beats by $0.05, beats on revs; reaffirms FY16 guidance :
- Reports Q3 (Sep) earnings of $0.13 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus of $0.08; revenues rose 14.1% year/year to $316.53 mln vs the $310.64 mln Capital IQ Consensus.
- Kate Spade North America net sales for the third quarter of 2016 were $260 million, an increase of $31 million, or 13.7% compared to the third quarter of 2015.
- Kate Spade International net sales for the third quarter of 2016 were $51 million, an increase of $8 million, or 18.9% compared to the third quarter of 2015.
- Adelington Design Group net sales for the third quarter of 2016 were $6 million, a decrease of (2.2)% compared to the third quarter of 2015.
- Co reaffirms guidance for FY16, sees EPS of $0.63-0.70, excluding non-recurring items, vs. $0.65 Capital IQ Consensus Estimate; sees FY16 revs of $1.37-1.40 bln vs. $1.38 bln Capital IQ Consensus Estimate.
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