Kate Spade Announces Mack as Director - Analyst Blog


Accessories and apparel retailer Kate Spade & Company ( KATE ) 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 path as General Electric Company ( GE ) 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. ( ADBE ), 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 ( CBK ), with a Zacks Rank #1 (Strong Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Business , Stocks

Referenced Stocks: CEO , GE , ADBE , CBK , KATE



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