For fiscal year 2013, net sales were 1.314 billion dollars, a 7.1 percent increase compared to fiscal year 2012. Wholesale net sales grew 6.6 percent to 1.104 billion dollars. Retail net sales rose 9.6 percent to 209.6 million dollars. Retail comparable store sales for the fiscal year 2013 decreased 2.1 percent.
Commenting on the results, Edward Rosenfeld, Chairman and Chief Executive Officer, said, “Our wholesale business met expectations during the fourth quarter, but our retail segment was below plan primarily due to softer-than-anticipated performance in December. We believe our product assortment remained on-trend, as evidenced by our continued strong performance in the wholesale segment, but traffic in our own retail stores was disappointing. Looking ahead, while we are confident that we can maintain solid momentum in our wholesale business, we are cautious on the near-term outlook for our retail segment given the recent softness in traffic and sales trends.”
Diluted EPS for the fiscal year 2013 is now expected to be approximately 1.97 dollars, the low end of the previously provided guidance range of 1.97 dollars-2.03 dollars. For fiscal year 2014, the Long Island headquartered company expects that net sales will increase 5-7 percent over net sales in 2013. Diluted EPS is expected to be in the range of 2.05 dollars-2.15 dollars.