Source: Company reports

1Q16 RESULTS

Kate Spade reported 1Q16 adjusted EPS of $0.05, in line with the consensus estimate. Total revenues were $274.4 million versus consensus of $268.2 million. North American sales were $218.7 million versus consensus of $214.6 million, while international sales were $48.9 million versus consensus of $49.0 million. Direct comps were up 19%; excluding e-commerce, comps were up 8%. Comparable sales per square foot for Kate Spade New York stores totaled $1,611 for the latest 12 months, compared to $1,588 for the year-ago period.

2016 OUTLOOK

Full-year guidance calls for EPS of $0.70–$0.80, consistent with prior guidance and compared to consensus of $0.77. Revenue guidance was reaffirmed at $1.389–$1.41 billion compared to consensus of $1.40 billion. Adjusted EBITDA is expected to be $257–$282 million versus consensus of $263.5 million. Comp growth in the direct-to-consumer business is expected to be up in the low-to-mid teens.