Summary - Funding Rounds

Founding Date

1994
Kate Spade is a subsidiary of Coach

Kate Spade Income Statement

Annual

usdFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

1.3b1.1b1.2b1.4b

Revenue growth, %

(10%)9%11%

Cost of goods sold

306.8m458.3m458.3m488.6m

Gross profit

958.2m680.3m784.4m892.9m

Gross profit Margin, %

76%60%63%65%

EBIT

(45.5m)33.5m66.4m183.6m

EBIT margin, %

(4%)3%5%13%

Interest expense

20.2m19.2m19.7m

Income tax expense

(4.6m)(84.4m)(84.4m)4.5m

Net Income

73.0m159.2m17.1m153.6m

Quarterly

USDQ3, 2013Q3, 2014Q1, 2015Q2, 2014Q3, 2015Q1, 2016Q2, 2015Q3, 2016Q1, 2016Q2, 2016Q1, 2017

Revenue

430.6m250.4m328.1m266.0m277.3m255.3m281.1m316.5m274.4m319.7m271.2m

Cost of goods sold

187.5m93.1m146.6m110.1m107.5m100.6m109.6m128.6m104.9m129.0m99.8m

Gross profit

243.1m157.3m181.5m155.9m169.8m154.7m171.5m187.9m169.5m190.7m171.5m

Gross profit Margin, %

56%63%55%59%61%61%61%59%62%60%63%

EBIT

(2.3m)3.5m(43.1m)9.9m12.3m(37.1m)17.5m37.1m17.7m34.1m6.9m

EBIT margin, %

(1%)1%(13%)4%4%(15%)6%12%6%11%3%

Interest expense

12.1m2.2m9.5m6.5m5.3m3.4m5.3m4.9m5.0m4.9m4.5m

Pre tax profit

(13.6m)(52.9m)(13.2m)(51.8m)10.4m2.9m

Income tax expense

1.3m(3.1m)1.8m764.0k973.0k1.8m1.1m(56.0k)1.6m1.5m1.8m

Net Income

(16.9m)(9.1m)46.2m(4.4m)2.3m(55.2m)8.5m29.6m11.6m26.8m1.4m

Kate Spade Balance Sheet

Annual

USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Cash

179.9m59.4m130.2m184.0m184.0m297.9m

Accounts Receivable

Inventories

Current Assets

651.7m474.5m621.7m757.5m

PP&E

149.1m174.1m174.0m167.2m

Goodwill

49.1m64.8m48.7m50.0m

Total Assets

977.5m926.3m980.4m1.1b

Accounts Payable

142.7m88.4m109.3m93.1m

Short-term debt

3.4m10.5m4.5m3.7m

Current Liabilities

445.2m252.8m267.2m224.4m

Long-term debt

390.8m400.3m397.0m389.7m

Total Debt

394.2m410.7m401.6m393.4m

Additional Paid-in Capital

156.0m199.1m224.7m251.8m

Retained Earnings

1.0b1.1b1.2b1.3b

Total Equity

(32.5m)199.6m245.2m429.9m

Debt to Equity Ratio

-12.1 x2.1 x1.6 x0.9 x

Debt to Assets Ratio

0.4 x0.4 x0.4 x0.4 x

Financial Leverage

-30.1 x4.6 x4 x2.6 x

Quarterly

USDQ3, 2013Q3, 2014Q1, 2015Q2, 2014Q3, 2015Q1, 2016Q2, 2015Q3, 2016Q1, 2016Q2, 2016Q1, 2017

Cash

6.8m123.3m128.5m177.1m219.7m212.6m231.4m308.1m260.6m306.5m422.3m

Inventories

310.6m220.7m210.1m178.2m248.4m182.5m188.4m262.6m220.7m217.4m215.1m

Current Assets

499.0m446.8m491.0m467.0m563.4m508.4m522.2m677.0m583.7m624.6m738.6m

PP&E

244.5m176.4m155.8m165.6m177.3m168.0m171.3m179.3m175.3m178.0m159.4m

Goodwill

52.7m68.9m71.9m72.5m48.8m49.4m47.8m56.7m52.3m56.3m52.2m

Total Assets

957.0m905.6m936.6m922.1m922.3m861.9m871.9m1.1b951.9m997.1m1.1b

Accounts Payable

217.8m111.6m118.6m94.0m132.2m96.7m101.7m120.6m99.8m105.9m93.4m

Short-term debt

137.4m7.4m5.3m6.4m4.5m12.5m4.5m3.6m3.6m3.6m3.7m

Current Liabilities

565.9m271.2m306.4m275.4m283.7m239.7m241.1m243.7m222.2m227.3m201.9m

Long-term debt

391.3m401.4m390.3m402.4m397.1m399.2m398.2m390.6m391.3m390.5m388.9m

Total Debt

528.7m408.8m395.6m408.8m401.6m411.7m402.7m394.2m395.0m394.1m392.6m

Additional Paid-in Capital

151.6m193.6m181.5m187.9m218.5m205.1m211.9m246.9m232.6m240.8m258.0m

Retained Earnings

838.0m1.0b1.0b1.0b1.1b1.1b1.1b1.2b1.2b1.2b1.3b

Total Equity

(220.7m)70.2m66.3m77.5m173.4m151.0m164.0m345.1m267.5m307.2m436.3m

Financial Leverage

-4.3 x12.9 x14.1 x11.9 x5.3 x5.7 x5.3 x3 x3.6 x3.2 x2.5 x

Kate Spade Cash Flow

Annual

usdFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

73.0m159.2m17.1m153.6m

Depreciation and Amortization

59.9m54.4m49.9m49.3m

Accounts Payable

20.7m(9.7m)23.9m(18.1m)

Cash From Operating Activities

(24.0m)14.4m105.6m244.9m

Purchases of PP&E

(78.1m)(93.6m)(55.1m)(46.3m)

Cash From Investing Activities

94.1m3.2m19.3m(59.2m)

Cash From Financing Activities

6.1m40.6m(8.5m)(3.2m)

Quarterly

USDQ3, 2013Q3, 2014Q1, 2015Q2, 2014Q3, 2015Q1, 2016Q2, 2015Q3, 2016Q1, 2016Q2, 2016Q1, 2017

Net Income

(16.9m)(9.1m)46.2m(4.4m)(44.4m)(55.2m)(46.7m)68.0m11.6m38.4m1.4m

Depreciation and Amortization

36.8m24.2m36.4m11.5m23.9m12.5m

Accounts Payable

111.6m94.0m46.6m96.7m14.4m10.0m(9.6m)(3.8m)800.0k

Cash From Operating Activities

8.5m(319.0k)60.5m(13.3m)49.2m(40.3m)

Purchases of PP&E

(40.8m)(28.2m)(37.0m)(11.8m)(25.2m)(9.9m)

Cash From Investing Activities

36.2m56.3m(48.6m)(22.5m)(36.1m)(11.6m)

Cash From Financing Activities

(8.1m)(6.7m)(1.8m)(2.4m)(3.7m)(5.8m)
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