04 Nov Revenue Soars for Sequential Brands Group, Owner of Jessica Simpson Shoes
Sequential Brands Group today reported third-quarter results before the market open that surpassed forecasts.
The New York-based owner of the Jessica Simpson collection, Joe’s denim, William Rast and other popular footwear and apparel brands posted revenue growth of 83 percent, to $42 million during the quarter.
Reported net income slipped 52 percent year-over-year, to $1.3 million, or 2 cents per diluted share. However, adjusted net income climbed 50 percent year-over-year, to $7.5 million, or 12 cents per diluted share, topping forecasts for diluted earnings per share of 11 cents.
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