Summary - Funding Rounds

Founding Date

1994
Kate Spade is a subsidiary of Coach

Kate Spade Income Statement

Annual

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

Revenue

1.3 b1.1 b1.2 b1.4 b

Revenue growth, %

(10%)9%11%

Cost of goods sold

306.8 m458.3 m458.3 m488.6 m

Gross profit

958.2 m680.3 m784.4 m892.9 m

Gross profit Margin, %

76%60%63%65%

EBIT

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

EBIT margin, %

(4%)3%5%13%

Interest expense

20.2 m19.2 m19.7 m

Income tax expense

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

Net Income

73 m159.2 m17.1 m153.6 m

Quarterly

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

Revenue

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

Cost of goods sold

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

Gross profit

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

Gross profit Margin, %

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

EBIT

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

EBIT margin, %

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

Interest expense

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

Pre tax profit

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

Income tax expense

1.3 m(3.1 m)1.8 m764 k973 k1.8 m1.1 m(56 k)1.6 m1.5 m1.8 m

Net Income

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

Kate Spade Balance Sheet

Annual

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

Cash

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

Accounts Receivable

Inventories

Current Assets

651.7 m474.5 m621.7 m757.5 m

PP&E

149.1 m174.1 m174 m167.2 m

Goodwill

49.1 m64.8 m48.7 m50 m

Total Assets

977.5 m926.3 m980.4 m1.1 b

Accounts Payable

142.7 m88.4 m109.3 m93.1 m

Short-term debt

3.4 m10.5 m4.5 m3.7 m

Current Liabilities

445.2 m252.8 m267.2 m224.4 m

Long-term debt

390.8 m400.3 m397 m389.7 m

Total Debt

394.2 m410.7 m401.6 m393.4 m

Additional Paid-in Capital

156 m199.1 m224.7 m251.8 m

Retained Earnings

1 b1.1 b1.2 b1.3 b

Total Equity

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

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

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

Inventories

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

Current Assets

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

PP&E

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

Goodwill

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

Total Assets

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

Accounts Payable

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

Short-term debt

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

Current Liabilities

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

Long-term debt

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

Total Debt

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

Additional Paid-in Capital

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

Retained Earnings

838 m1 b1 b1 b1.1 b1.1 b1.1 b1.2 b1.2 b1.2 b1.3 b

Total Equity

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

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 m159.2 m17.1 m153.6 m

Depreciation and Amortization

59.9 m54.4 m49.9 m49.3 m

Accounts Payable

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

Cash From Operating Activities

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

Purchases of PP&E

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

Cash From Investing Activities

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

Cash From Financing Activities

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

Quarterly

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

Net Income

(16.9 m)(9.1 m)46.2 m(4.4 m)(44.4 m)(55.2 m)(46.7 m)68 m11.6 m38.4 m1.4 m

Depreciation and Amortization

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

Accounts Payable

111.6 m94 m46.6 m96.7 m14.4 m10 m(9.6 m)(3.8 m)800 k

Cash From Operating Activities

8.5 m(319 k)60.5 m(13.3 m)49.2 m(40.3 m)

Purchases of PP&E

(40.8 m)(28.2 m)(37 m)(11.8 m)(25.2 m)(9.9 m)

Cash From Investing Activities

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

Cash From Financing Activities

(8.1 m)(6.7 m)(1.9 m)(2.4 m)(3.7 m)(5.8 m)
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