Handbag maker Kate Spade's quarterly sales rise 14 pct
May 7 (Reuters) - Kate Spade & Co's quarterly sales jumped 14 percent as its quirky styles and vibrant colors attracted shoppers looking for trendy and unique handbags.
The company, however, reported a net loss of $55.2 million, or 43 cents per share, for the first quarter ended April 4 as it took a $26 million charge to terminate contracts with a former joint venture partner in China.
Kate Spade had reported a net income of $46.2 million, or 37 cents per share, in the year-earlier quarter.
Revenue rose to $255.3 million from $223.6 million.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Kirti Pandey)
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