Why Kate Spade (KATE) Stock Is Up Today

NEW YORK (TheStreet) -- Kate Spade (KATE) was gaining 8.3% to $37.54 Wednesday after beating analysts' expectations for revenue in the first quarter.

For the first quarter Kate Space reported a loss of -6 cents a share, missing the Capital IQ Consensus Estimate of a loss of -4 cents a share by 2 cents. Revenue grew 33.6% year-over-year to $328 million for the quarter. Analysts expected revenue of $201.3 million for the quarter.

The apparel company said it plans to open about 80 stores in 2014.

Looking forward to full-year 2014 Kate Space expects EBITDA of $1115 million to $125 million.

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TheStreet Ratings team rates KATE SPADE & CO as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate KATE SPADE & CO (KATE) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, expanding profit margins and impressive record of earnings per share growth. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."

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