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Kate Spade & Co (KATE.N)

KATE.N on New York Stock Exchange

18.45USD
26 May 2017
Change (% chg)

$0.03 (+0.16%)
Prev Close
$18.42
Open
$18.43
Day's High
$18.46
Day's Low
$18.42
Volume
940,271
Avg. Vol
955,518
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$24.23
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$14.02

Latest Key Developments (Source: Significant Developments)

Magnetar Financial reports 5.49 pct stake in Kate Spade & Co, as of May 8, 2017
Thursday, 18 May 2017 09:27am EDT 

May 18 (Reuters) - Kate Spade & Co :Magnetar financial llc reports 5.49 percent stake in kate spade & co, as of may 8, 2017 - sec filing.  Full Article

Coach CEO- Approximately 60 pct of Kate Spade's consumers are millennial
Monday, 8 May 2017 10:56am EDT 

May 8 (Reuters) - Coach Inc :CEO on conf call- marketing and design, merchandising teams to remain independent for Kate and Coach, corporate functions to be shared.CFO- will issue $1.1 billion term loan, $1 billion senior secured loans.CEO- approximately 60% of Kate Spade's consumers are millennial.CEO- "in the short-term, we're not going to be looking at any major acquisitions...we have the financial flexibility to look at other smaller acquisitions in the size of a Stuart Weitzman or smaller".  Full Article

Kate Spade says it may be required to pay Coach a termination fee of $83.3 mln
Monday, 8 May 2017 07:29am EDT 

May 8 (Reuters) - Coach Inc :Kate spade & co - with respect to coach deal, under some circumstances, co is required to pay coach a termination fee of $83.3 million - sec filing.  Full Article

Coach to acquire Kate Spade & Co for $18.50 per share in cash
Monday, 8 May 2017 06:45am EDT 

May 8 (Reuters) - Coach Inc : :Coach Inc to acquire Kate Spade & Company for $18.50 per share in cash.Coach Inc to acquire Kate Spade & Company for $18.50 per share in cash.Coach Inc- acquisition expected to be accretive in fiscal 2018 and to reach double-digit accretion by fiscal 2019 on a non-GAAP basis.Coach Inc - acquisition expected to be accretive in fiscal 2018 and to reach double-digit accretion by fiscal 2019 on a non-GAAP basis.Coach Inc - transaction has been unanimously approved by boards of directors of Kate Spade & Company and Coach Inc.Coach Inc - deal for total transaction value of $2.4 billion..Coach Inc - deal to reach double-digit accretion by fiscal 2019 on a non-GAAP basis.Coach Inc - transaction has been unanimously approved by boards of directors of Kate Spade & Company and Coach Inc.Coach Inc - transaction is not subject to a financing condition.Coach Inc - Coach has secured committed bridge financing from BofA Merrill Lynch.Coach-$2.4 billion purchase price expected to be funded by a combination of senior notes, bank term loans and approximately $1.2 billion of excess Coach cash.Coach Inc - believe co can realize a run rate of approximately $50 million in synergies within three years of deal closing.Coach - cost synergies will be realized through scale and inventory management, optimization of Kate Spade's supply chain network.Coach Inc - plan to reduce sales in Kate Spade's wholesale disposition and online flash sales channels.  Full Article

Kate Spade & Company Q1 sales $271 million
Tuesday, 18 Apr 2017 08:00am EDT 

April 18 (Reuters) - Kate Spade & Co :Kate Spade & Company reports first quarter 2017 results.Q1 GAAP earnings per share $0.01 from continuing operations.Q1 sales $271 million versus I/B/E/S view $298.5 million.Q1 earnings per share view $0.06 -- Thomson Reuters I/B/E/S.Q1 adjusted GAAP earnings per share $0.01 from continuing operations including items.Kate Spade - in light of ongoing review of strategic alternatives; will not be providing forward-looking guidance, hosting conference call.Kate Spade & Co - qtrly direct-to-consumer comparable sales decline of 2%.Qtrly direct-to-consumer comparable sales decline of 2%.  Full Article

Kate Spade & Company says reviewing strategic alternatives
Thursday, 16 Feb 2017 08:00am EST 

Kate Spade & Co : Kate Spade & Co - company is in process of reviewing strategic alternatives to enhance shareholder value . Kate spade & company reports fourth quarter and full year 2016 results and is reviewing strategic alternatives . Q4 earnings per share $0.67 from continuing operations . Q4 sales $471 million versus I/B/E/S view $472.8 million . Q4 earnings per share view $0.35 -- Thomson Reuters I/B/E/S . Q4 adjusted earnings per share $0.41 from continuing operations . Kate Spade & Co - no forward-looking guidance will be provided at this time . Kate Spade & Co - direct-to-consumer comparable sales growth of 9% for q4 .Kate Spade - in consultation with perella weinberg partners as financial advisor co is conducting process to explore and evaluate strategic alternatives.  Full Article

Retailer Kate Spade is exploring a sale - CNBC citing DJ
Wednesday, 28 Dec 2016 12:38pm EST 

: Retailer Kate Spade is exploring a sale and is working with investment banks to sound out possible acquirers - CNBC citing DJ Further company coverage: [KATE.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Caerus investors sent letter to Kate Spade board chairman
Monday, 14 Nov 2016 06:00am EST 

Kate Spade & Co : Caerus investors - sent letter to Kate Spade board chairman urging board to take steps to realize "shareholder value by pursuing a sale of company" .Caerus investors - think Kate Spade would make a great acquisition candidate for a strategic company in lifestyle accessories category.  Full Article

Jana Partners takes sole share stake in Yahoo, Twitter
Monday, 14 Nov 2016 05:19am EST 

Jana Partners LLC : Jana Partners LLC takes sole share stake in Yahoo Inc - sec filing . Jana Partners LLC takes 2.9 million sole share stake in Twitter - sec filing . Jana Partners LLC ups sole share stake in Marathon Petroleum Corp by 61.1 percent to 4.4 million shares . Jana Partners LLC dissolves sole share stake in Expedia Inc . Jana Partners LLC takes sole share stake of class B shares in Viacom Inc . Jana Partners LLC ups sole share stake in Hewlett Packard Enterprise Co by 68.2 percent to 6.8 million shares . Jana Partners LLC takes sole share stake of 1.1 million shares in Kate Spade & Co . Jana Partners LLC takes sole share stake of 5.6 million shares in Johnson Controls International . Jana Partners LLC dissolves sole share stake in Pinnacle Foods Inc .Jana Partners LLC - change in holdings are as of September 30, 2016 and compared with the previous quarter ended as of June 30, 2016.  Full Article

Kate Spade Q2 adjusted EPS $0.11 from continuing operations
Wednesday, 3 Aug 2016 07:00am EDT 

Kate Spade & Co : Q2 earnings per share $0.19 from continuing operations . Q2 sales rose 13.7 percent to $320 million . Q2 2016 direct-to-consumer comparable sales growth was 4%, or 1% excluding ecommerce . Sees FY net sales $1.370 billion - $1.400 billion . Fy2016 earnings per share view $0.78, revenue view $1.41 billion -- Thomson Reuters I/B/E/S . Sees DTC comparable sales growth for FY 2016 high single-digit to low double-digit growth . Updates full year 2016 guidance . Q2 adjusted earnings per share $0.11 from continuing operations . Q2 earnings per share view $0.14, revenue view $318.5 million -- Thomson Reuters I/B/E/S . Sees FY diluted earnings per share $0.63 - $0.70 .Sees FY 2016 capital expenditures $65 million - $70mln.  Full Article

More From Around the Web

BRIEF-Coach Inc launches tender offer to acquire Kate Spade & Co for $18.50 per share in cash

* Coach Inc launches tender offer to acquire Kate Spade & Company for $18.50 per share in cash