Fifth & Pacific Q3 net sales up 18.1 percent

REPORT_ Fifth & Pacific net sales for the third quarter of 2013 showed

a 18.1 percent increase from the comparable 2012 period. Net sales for the first nine months of 2013 showed a 16.3 percent rise from the comparable 2012 period. Gross profit as a percentage of net sales increased to 56.5 percent in the third quarter of 2013 compared to 55.7 percent in the comparable 2012 period.

Selling, general and administrative expenses increased 19 percent in the third quarter of 2013 compared to the third quarter of 2012. Selling, general and administrative expenses as a percentage of net sales were 56.2 percent in the third quarter of 2013 compared to 55.8 percent in the third quarter of 2012.

Fifth & Pacific Companies is based in New York. It designs and markets a portfolio of retail-based, premium, global lifestyle brands including Kate Spade and Lucky Brand. William L. McComb, Chief Executive Officer of Fifth & Pacific Companies, said: “We successfully completed the sale of the intellectual property of the Juicy Couture brand to the Authentic Brands Group. We have also entered a short-term licensing agreement with Authentic Brands Group. Kate Spade posted a 76 percent increase in total net sales, driven by strong performance in all channels of its business, and a 31 percent increase in direct-to-consumer comparable sales.”