Kate Spade (KATE) down as profit disappoints

Kate Spade & Co. (NYSE: KATE) shares faded 3.6% to $34.04. The company delivered quarterly profit that fell short of expectations, but sales beat forecasts and the company backed its 2015 target for earnings before interest, taxes, depreciation, and amortization, or EBITDA. Share volume was 427,000, compared to an all-day average of 375,000