On Wednesday, Shares of Kate Spade & Co (NYSE:KATE), subtract -0.98% and closed at $17.23 in the last trading session. The last trading range of the stock ranges between $17.20 and $17.44. Kate Spade & Company (KATE) recently declared results for the third quarter ended October 1, 2016.
Craig A. Leavitt, Chief Executive Officer of Kate Spade & Company, said: “In the third quarter, several macroeconomic factors, counting a challenging retail environment and continuing tourist headwinds, influenced our results. That said, we are making solid progress on several strategies that are continuing to drive growth in our business, which is reflected in the consumer’s strong response to our collections at full-price. We remain focused on the factors we can control as we continue to grow our business and execute our long-term strategy, maintaining our commitment to become a $4 billion business at retail.”
THIRD QUARTER RESULTS
Net sales for the third quarter of 2016 were $317 million, a boost of $39 million, or 14.1% contrast to the third quarter of 2015. Net sales for the third quarter of 2016 raised $41 million, or 15.0%, apart from sales for wind-down operations for the third quarter of 2015. Third quarter 2016 direct-to-consumer comparable sales growth was 6.7%, or flat apart from eCommerce. Comparable sales per square foot for kate spade new york stores were $1,615 for the most recent twelve months, contrast to $1,619 for the twelve month period ended July 2, 2016.
Gross profit as a percentage of net sales was 59.4% for the third quarter of 2016, contrast to 61.2% for the third quarter of 2015.
Selling, general & administrative expenses were $151 million, or 47.7% of net sales in the third quarter of 2016, contrast to $157 million, or 56.8% of net sales in the third quarter of 2015. Selling, general & administrative expenses in the third quarter of 2015 were $150 million, or 54.3% of net sales, apart from the results of wind-down operations and expenses associated with streamlining activities.
VMware, Inc. (NYSE:VMW), jumped 0.28% and closed at $78.47 in the last trading session. The last trading range of the stock ranges between $77.71 and $78.61. The company’s Market capitalization is $33.33 Billion with the total Outstanding Shares of 113.87 million. VMware, Inc. (VMW) a global leader in cloud infrastructure and business mobility, recently declared the general availability of new releases of VMware vSphere®, VMware vSAN™ (formerly VMware Virtual SAN), VMware vRealize Log Insight and VMware vRealize Operations to assist IT operations teams more efficiently run, manage and secure their traditional and modern applications on- or off-premises.
These new releases advance the VMware Cross-Cloud Architecture™, which facilitates customers to run, manage, connect, and secure their applications across clouds and devices in a common operating environment. As the world’s most complete hybrid cloud architecture, the Cross-Cloud Architecture delivers consistent deployment models, security policies, visibility, and governance for all applications, running on- and off-premises, regardless of the underlying cloud, hardware platform or hypervisor. VMware’s Cross-Cloud Architecture builds on its leading private and hybrid cloud capabilities by offering customers the freedom to innovate in multiple clouds, and is delivered through VMware Cloud Foundation™, VMware vRealize Suite and a new set of Cross-Cloud Services™.