Accessories and apparel maker Kate Spade & Co slashed its full-year sales and profit forecasts on Wednesday, sending its shares down more than a fifth.
* Shares plunge as much as 22 pct
(Adds details, CEO comments; updates shares)
* Q2 2016 direct-to-consumer comparable sales growth was 4%,
or 1% excluding ecommerce
Aug 3 Kate Spade & Co's quarterly
revenue rose 13.7 percent, beating analysts' estimates, as
luxury handbags and accessories under its kate spade new york
brand attracted shoppers.
Kate Spade & Co's comparable store sales increased at their fastest pace in five quarters, smashing Wall Street estimates, as demand surged for its quirky handbags and accessories in North America.
* Q1 gaap earnings per share $0.08 from continuing