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Kate Spade considers potential sale after strong results

Handbag and accessories retailer Kate Spade New York has confirmed it is “exploring strategic alternatives” as it reported a rise in sales for the previous year.

The company reported net sales for the fourth quarter to 31 December were up $42m (£33.6m), or 10% on a reported basis. Full-year net sales for the year to 31 December increased by $139m (£111.3m), or 11% on a reported basis. 

In a statement, Craig A Leavitt, CEO of Kate Spade & Company, said the positive results showed the strength of the company’s business model in a “challenging retail environment”. He also confirmed the possibility of a sale of the business, saying: “We remain committed to maximising value and are exploring strategic alternatives that are in the best interests of our company and shareholders.” 

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