Kate Spade says it is exploring strategic alternatives
It has hired Perella Weinberg Partners and Paul, Weiss, Rifkind, Wharton & Garrison to help consult on its options.
The company's North American net sales were up 9.5% to $407 million compared to the same period in 2015, and worldwide business reached $59 million, an increase of 12.4%.
Kate Spade's fortunes took a swift downturn earlier this year when the company went from reporting double-digit same-store sales increases to lowering its full year forecast, blaming a slowdown in outlet store sales, which forced deeper discounts.
Kate Spade used to be part of Fifth & Pacific Cos. and Liz Claiborne, but as various brands under the parent company faltered and were sold off, its name was changed to reflect the shining Kate Spade.
Kate Spade's net income rose 32.7 percent to $85.55 million, or 66 cents per share, in the quarter.
"Our solid fourth quarter and fiscal year performance demonstrate the strength of our differentiated business model, as we continued to gain market share and deliver strong growth despite a challenging retail environment", CEO Craig Leavitt said.
In Thursday's announced, Kate Spade's board of directors said it plans to "proceed in a timely manner" but has not set a timetable for completion of this process.
In the statement, the company also confirmed that it was reviewing strategic alternatives to enhance shareholder value. They also made clear that "there can be no assurance" a deal can be made, and it will not provide guidance or any updates on the possible transaction until it has come to a conclusion.
With shares of Kate Spade up some 50 percent since chatter started swirling about a potential sale in December, short interest has simultaneously shot higher.
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CBP says horse meat is prohibited from entering the US without an official certification due to fears of foot-and-mouth disease. CBP noted that people often travel with food products that are normal to their culture but are not allowed in the U.S.
The comment came to light after actress Emily Ratajkowski tweeted Monday that a Times journalist told her "Melania is a hooker ". The journalist has not been named, but they do not cover Washington or politics, Ms Murphy said.
According to reports , at least 100 people, including children and women, have been injured in the blast. Numbers of causalities and injuries could get high as influx of people frequents shrine on Thursdays.
Jamie Vardy scored twice the last time he played Millwall , as Leicester beat them 3-0 in November 2013. Millwall have kept five consecutive clean sheets and it's over eight hours since they conceded a goal.
President Trump in his electoral campaign emphasised on domestic manufacturing, particularly concentrating on Boeing. Now that the union has been vanquished, preparations for Trump's visit have taken on the air of a victory lap.
Schiller said he expects WWDC 2017 to be about the same size as previous conferences-about 5,000 developers and 1,000 engineers. Apple has announced that its Worldwide Developer Conference will be taking place this year between June 5-9.
The average true range of the stock is observed at 0.64 and the relative strength index of the stock is recorded at 71.06. Analysts predict that Advanced Micro Devices, Inc . will post $0.07 earnings per share for the current fiscal year.
Philbin said on the day of their final episode together, he told Ripa that "Every morning, I'll think about this", per People . Would it be every night? When asked if he would consider being the face of another talk show, Philbin had many questions.
When they entered, they asked Ramirez if he was in the country legally, and Ramirez said he had a work permit, the lawsuit stated. Medina is the reportedly the first DACA recipient to be detained by ICE and now open borders groups are demanding his release.
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Justin Bieber Is A Suspect In Alleged Head-butting Incident
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Top Russian, US diplomats hold first meeting in Germany
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Court to Rehear Case on CFPB's Constitutionality
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