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Kate Spade stems second-quarter losses at parent company Thursday, 26th July 2012
Fifth & Pacific Cos. Inc., owners of Kate Spade, has revealed that the brand has helped the group by narrowing second-quarter losses.
For the period ended 30 June, the company posted a net loss of USD 52.1 million compared with a year-ago loss of USD 89.9 million.
Net sales fell 6.5 per cent to USD 336.9 million from USD 360.3 million the previous year, largely due to the difficulties experienced at the Juicy Couture business.
Stable mate Lucky Brand reported a 15.3 per cent rise in sales to USD 112 million, while at Kate Spade sales jumped 48.1 per cent to USD 101 million.
At Juicy Couture, sales dipped 10.4 per cent to USD 104.9 million.