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.
Kate Spade models show off the retailer's collections. The classic look and subtle logos are helping the retailer's popularity with young women, according to Goldman Sachs.
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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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