Kate Spade is up 11.18% at $21.87 a share as the company said it is "reviewing strategic alternatives," in a press release issued on Thursday.
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Kate Spade is exploring ways to sell itself — and the stock is soaring (KATE)
The company also reported fourth-quarter profit that beat analysts expectations.
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The handbag and accessories maker is under pressure from which sent its board a letter in November
The firm thinks Kate Spade would make a good acquisition candidate for a strategic lifestyle-accessories company.
Kate Spade reported higher than expected fourth quarter profit on Thursday. Here are the numbers:
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- Adjusted EBITDA was $261 million for the full year 2016, compared to Adjusted EBITDA of $203 million for the full year 2015.
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