Shares of Kate Spade & Co (NYSE:KATE) ended Wednesday session in green amid volatile trading. The shares closed up +0.22 points or 1.19% at $18.75 with 2.97 million shares getting traded. Post opening the session at $18.53, the shares hit an intraday low of $18.27 and an intraday high of $19.10 and the price vacillated in this range throughout the day. The company has a market cap of $2.42 billion and the numbers of outstanding shares have been calculated to be 128.03 million shares.
Kate Spade & Co (KATE) designs and markets apparel and accessories. The company operates in three segments: KATE SPADE North America, KATE SPADE International, and Adelington Design Group. It offers briefcases, handbags, small leather goods, fashion accessories, jewelry, fragrances, and apparel for men, women, and children; and licensed products, including footwear, swimwear, watches, children’s wear, optics, tabletop products, legwear, electronics cases, furniture, bedding, and stationery. The company markets and sells its products under the AXCESS, KATE SPADE SATURDAY, JACK SPADE, MARVELLA, KATE SPADE, MONET, kate spade new York, and TRIFARI brand names.
Shares of Herbalife Ltd. (NYSE:HLF) ended Wednesday session in green amid volatile trading. The shares closed up +2.29 points or 3.82% at $62.16 with 2.73 million shares getting traded. Post opening the session at $61.39, the shares hit an intraday low of $60.82 and an intraday high of $63.50 and the price vacillated in this range throughout the day. The company has a market cap of $5.60 billion and the numbers of outstanding shares have been calculated to be 92.91 million shares.
On August 10, 2016 Herbalife (HLF), a global nutrition company, has won approval from China’s Ministry of Commerce to operate in three additional provinces with a population of about 57 million, which will contribute to our growth plans in the country.
The Gansu, Ningxia and Inner Mongolia provinces, which include three provincial capital cities and 16 districts, have completed their service outlet reviews that permit Herbalife to conduct direct selling activities.
China’s Ministry of Commerce granted the permits after reviewing the current business practices of Herbalife in the country. Herbalife has 300,000 service providers in China and licenses to operate in 25 other provinces.
“These approvals are a testament to our success in China and our future growth plans,” said Michael O. Johnson, chairman and CEO of Herbalife.
To meet increasing demand, in July Herbalife began operations at its newest facility in Nanjing, a 372,000-square-foot factory that will double Herbalife’s production capacity in China. Herbalife also operates factories in Changsha and Suzhou, and the three facilities combined can produce 60 million units annually. Altogether, Herbalife employs more than 1,300 people in China, including 124 at its new facility in Nanjing.
“Our business continues to expand as more consumers see Herbalife as a trusted, convenient and accessible nutrition brand,” said Jerry Li, senior vice president and manager of China operations for Herbalife. “Our nutrition clubs and preferred customer loyalty program are aimed at engaging Chinese consumers in improving their well-being and weight.”