Accessories and apparel retailer
Kate Spade & Company (
) recently elected Doug Mack to its management board, taking its
tally to 11.
Mack has a tangible experience in diverse fields such as marketing,
technology and customer service. Gifted with e-commerce innovating
skills, Mack assumed charge as one of the directors of the
company with immediate effect. His term will cease with the
company's Annual Shareholders' Meet in 2015.
A graduate from Boston University, Mack commenced his professional
General Electric Company
) management trainee, from where he eventually became the
engagement manager at McKinsey & Company.
Mack also joined the billion dollar e-commerce retailer Fanatics,
Inc. as Chief Executive Officer (CEO) in Apr 2014. Prior to this,
Mack served as CEO in various online companies including One Kings
Lane, Scene7 and
Adobe Systems Inc.
), where he was the General Manager of the digital media segment.
With such enriched knowledge in the world of technology, Mack is
likely to be an asset for the company and is likely to take it
forward in the omni-channel space.
Kate Space recently announced robust first quarter 2014 results
where in its adjusted loss from continuing operations narrowed to 6
cents a share from 16 cents in the prior year quarter. However, the
loss was wider than the Zacks Consensus Estimate of 4 cents.
Moreover, benefitting from an additional week and a 43% surge in
comparable store sales, the company's net sales from continuing
operations jumped 33.5% to $328.1 million. Net sales also cruised
way ahead of the Zacks Consensus Estimate of $199.0 million.
Kate Spade currently carries a Zacks Rank #3 (Hold). However,
another better-ranked stock in the same industry includes
Christopher & Banks Corporation
), with a Zacks Rank #1 (Strong Buy).
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