Kenneth Cole Posts Record Net Revenues of $129.9 Million
By Mari Davis
Photo below: From the Kenneth Cole Fall 2005 collection
Photo by Javier Mateo
DALLAS, Apr 21, 2005/ FW/ --- He might not be a member of the New York’s triumvirate of Ralph Lauren, Donna Karan and Calvin Klein as the most financially successful fashion houses but Kenneth Cole is well on his way to make it the ‘Quad Squad’ with Kenneth Cole Productions as the fourth member.
Yesterday, Kenneth Cole Productions, Inc. (NYSE:KCP) announced that for the first quarter of 2005, net revenues increased 6.1% to a record level of $129.9 million versus $122.4 million in the year-ago quarter.
It gets better with the gross margin for the first quarter pegged at 43.2%, up 30 basis points versus the year-ago level of 42.9%.
First quarter wholesale revenues of $78.5 million were up 8.6% versus the prior year's level of $72.3 million.
Consumer direct revenues for the first quarter increased 1.8% to $41.8 million versus $41.0 million in the same quarter last year, despite a comparable store sales decline of 5.8%.
Licensing revenue for the first quarter increased by 6.4% to $9.6 million versus $9.0 million in the same quarter of the prior year.
In the same financial release, Kenneth Cole, who is also the Chairman and CEO of Kenneth Cole Productions adding to his role as Chief Designer for the brand commented that he is also optimistic for the upcoming Fall season, “which better reflects the brand’s elevation strategy and improved balance of fashion, quality and value.”
And, if you’ve seen what is coming to stores this September from Kenneth Cole,
you will be excited too.
Very contemporary silhouettes that combine high fashion with ease and comfort, made from high tech and natural fibers, the Kenneth Cole Fall 2005 collection is for the metro girl and urban guy from 16 – 60.
The accessories alone are to die for, like the stiletto knee-high boots with pointed toes and the neutral go-everywhere tote that can be used by both men and women.
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