Kenneth Cole Productions Inc. (New York) expects to report fourth quarter 2004 results below its prior guidance and current consensus estimates. The company now believes it is likely to report revenues of $133 million to $135 million.
Cole noted that a “generally challenging December,” particularly in its consumer-direct catalog business, is primarily responsible for the shortfall. Cole continues to believe that it will attain its prior guidance for sales and earnings growth in fiscal 2005 of 10 to 15 percent.
Kenneth Cole Productions Inc. designs, sources and markets footwear, handbags and accessories. It operates about 80 retail and outlet stores, and its products are also distributed through more than 4500 department stores and specialty stores.