Kate Spade misses Street 1Q forecasts

NEW YORK (AP) _ Kate Spade & Co. (KATE) on Tuesday reported first-quarter earnings of $1.4 million.

Advertisement

The New York-based company said it had profit of 1 cent per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The clothing, handbag and accessories company posted revenue of $271.2 million in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $298.9 million.

Kate Spade shares have climbed almost 4 percent since the beginning of the year. The stock has decreased 20 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KATE at https://www.zacks.com/ap/KATE

Keywords: Kate Spade, Earnings Report