Shares of Kate Spade jumped 10 percent in premarket trading Thursday after the luxury handbag maker confirmed that it is exploring strategic alternatives for its business. The firm made the announcement while releasing its fourth-quarter earnings, which beat Wall Street estimates on the bottom line but fell short on revenue. The company made the announcement while releasing its fourth-quarter earnings, which beat Wall Street estimates on the bottom line but fell short on revenue. The stock price was up 9 percent shortly after Thursday's opening bell. In its news release, Kate Spade management said that it is"conducting a process to explore and evaluate strategic alternatives to further enhance shareholder value." The company plans to move in a "timely" manner but has not set a definitive timetable for completion.