Fifth & Pacific Q4 sales up 30 percent

REPORT_ Fifth & Pacific Companies has announced preliminary fourth 

quarter 2013 direct to consumer comparable sales and preliminary full year 2013 results. During the fourth quarter, Kate Spade performed in line with expectations overall, delivering direct to consumer comparable sales growth of 30 percent. Lucky Brand also had a strong quarter, generating direct to consumer comparable sales growth of 5 percent. The company will report its fourth quarter and full year 2013 results on February 25, 2014.

Fifth & Pacific is based in New York. It designs and markets a portfolio of retail-based, premium, global lifestyle brands including the Kate Spade family of brands. William L. McComb, Chief Executive Officer, said: “2013 was a year of progress marked by continued industry leading growth at Kate Spade and significant progress in our efforts to unlock shareholder value. We expect to close the sale of Lucky Brand in early first quarter of 2014, and the wind down of our Juicy Couture operations is proceeding according to plan. This is all about bringing Kate Spade to its full potential and we are optimistic about the brand’s ability to deliver sizeable growth in 2014.”

In addition in 2014 Fifth & Pacific Companies will change its name to Kate Spade & Company to reflect the company's mono-brand focus. In addition, William L. McComb, Chief Executive Officer of Fifth & Pacific Companies, will step down from his role and be succeeded by Craig Leavitt, currently Chief Executive Officer of Kate Spade.