michael kors australia outlet cents per share
Jeans lift jones group revenue
Department stores picked up.
Fourth quarter revenue rose 8.8 percent to $971.9 million, more than the $955.3 million Wall Street was expecting, cheap michael kors according to Thomson Reuters I/B/E/S.
For 2013, jones forecast revenue of between $3.9 billion and $4.1 billion, an increase of 2.6 percent to 10.8 percent over 2012.That compares with analysts’ estimates of $3.88 billion.Wholesale division.
Jones, which in recent years has benefited from its shift to higher end brands with the acquisition of names such as stuart weitzman and kurt geiger, will continue to focus on building its upscale offerings in 2013, chief executive officer wesley card said in a statement.
Kurt geiger was jones’ fastest growing brand last year.Its revenue rose 52.5 percent to $305 million last year.
But sales fell for the company’s two biggest brands, nine west and jones new york, which together account for two fifths of total business.Stores continued to struggle, with revenue down 6.6 percent in the quarter.The company warned in october that it would be a tough holiday season for its stores, given how aggressive competitors would be in offering deals and discounts.
Gross margin fell 1.2 percentage points to 34.6 percent of sales in the quarter.The company said that as part of its efforts to improve margins, it would be careful about building up too much inventory in 2013.Retailers rose 6.8 percent, while shoe sales were up 5.5 percent.
The company’s fourth quarter net loss deepened to $80.1 million, or $1.06 per share, from $8.2 million, or 27 cents per share, a year earlier.
Excluding restructuring and other costs, jones earned 14 michael kors australia outlet cents per share, beating the 7 cents analysts were projecting.
(Reporting by in new york;Editing by gerald e.Thomson reuters journalists are subject to an editorial handbook which requires fair presentation and disclosure of relevant interests.