Kate Spade returns to profit in Q1
New York – Kate Spade & Company earned net income of $46 million in the first quarter of fiscal 2014. This marked a return to profitability after a net loss of $52 million in the prior year period.
The inclusion of net income from discontinued operations of $101 million helped Kate Spade reverse its net loss. Net sales were $328 million, an increase of 33.5% from $246 million in first quarter 2013, reflecting an increase in sales in the Kate Spade and Juicy Couture segments, partially offset by a decline in sales in the Adelington Design Group segment.
“While the promotional environment was much more competitive than last year, we stayed on strategy to build our full-price business in our specialty stores with a focus on client experience and rigorous planning that increased conversions,” said Craig A. Leavitt, president and CEO of Kate Spade. “Our small leather goods and handbag categories led this robust growth. Moreover, we are reaffirming our 2014 Adjusted EBITDA guidance of $115 million-125 million."
Adobe releases new marketing, analytics solutions
San Jose, Calif. – Adobe Systems is focusing on new predictive marketing and real-time customer engagement capabilities in several new digital marketing and analytics releases. Marketing Cloud Exchange, a new core service in Adobe Marketing Cloud (AMC), is a new marketplace for pre-built integrations and apps between Adobe solutions and third-party technologies (i.e., Google DDM, Microsoft Dynamics CRM and Tableau).
Other new AMC advancements include new enhanced predictive marketing capabilities designed to accurately forecast and optimize campaigns across channels to maximize ROI, as well as new capabilities across AMC that further drive real-time customer engagement and personalization.
In addition, updates to Adobe Analytics include instantaneous access to the entire live event stream flowing into Adobe Analytics, customer decision trees, and a unified audience segment building and management tool.
Furthermore, Adobe has released Adobe Media Optimizer, a cross-channel digital advertising platform that includes a next-generation predictive algorithm, real-time campaign management and extended audience reach. And Adobe has released Communities for learning, a new SaaS offering for creating social communities, specifically designed around social learning and field/channel enablement.
FarmaCorp selects Revionics price optimization
La Paz, Bolivia – Bolivian drugstore chain FarmaCorp S.A., has entered into a five-year agreement for Revionics Price Optimization with Revionics Inc. FarmaCorp was searching for a price optimization solution and a partner that would help analyze customer demand and shopping preferences.
After a comprehensive industry search, FarmaCorp said it chose Revionics’ solution due to its transparent science, ease of use, self-learning demand models and proven ROI with other retailers. Putting a price optimization system into practice is expected to improve the company’s sales and profit margins while supporting the company’s rapid growth plans in a highly competitive market.
“Implementing Revionics Price Optimization ensures our customers enjoy the optimal competitive pricing and value,” said Andres Valdivieso, FarmaCorp CIO. “After considering several vendors’ solutions we determined Revionics had the industry’s most superior product that would enable us to maintain our leadership in the market.”