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August 4, 2014

Michael Kors Holdings Ltd’s first-quarter net income surged 50% amid strong sales overseas.

New York -- Michael Kors Holdings Ltd’s first-quarter net income surged 50% amid strong sales overseas. The luxury retailer earned a better-than-expected $187.7 million for the three months ended June 28, up from $125 million from a year ago.

Net sales jumped 44% to $887 million. Total revenue — which includes licensing revenue — climbed 43% to $919.2 million. Global same-store sales for the quarter rose 24.2%.

July 10, 2014

Michael Kors has named Mark Brashear to the newly created role of president of men’s. Brashear was most recently at Hugo Boss, where he held the position of CEO and chairman, Americas.

Hong Kong - Michael Kors has named Mark Brashear to the newly created role of president of men’s. Brashear was most recently at Hugo Boss, where he held the position of CEO and chairman, Americas. Prior to his five-year tenure at Hugo Boss, Brashear was president of Faconnable from 2001 to 2008 and executive VP, Southwest Unit, at Nordstrom, where he worked from 1993 to 2001.

May 28, 2014

Michael Kors Holdings attributed impressive growth in net income, total revenues and same-store sales during fourth quarter 2014 to strong global demand for luxury items.

Hong Kong - Michael Kors Holdings attributed impressive growth in net income, total revenues and same-store sales during fourth quarter 2014 to strong global demand for luxury items. Net income for the three months ended March 29 rose 59% to $161 million, from $101.1 million last year.

Total revenue increased 53.6% to $917.5 million. from $597.2 million. Same-store sales grew 26%. The addition of 101 corporate stores and 150 licensed stores, including concessions, also helped fuel results.

May 12, 2014

Michael Kors Holdings Ltd. has named Cathy Marie Robinson as senior VP, global operations effective.

Hong Kong - Michael Kors Holdings Ltd. has named Cathy Marie Robinson as senior VP, global operations effective. Robinson has 24 years’ experience in operations, logistics and supply chain management at various retail companies, and since 2012 was senior VP, chief logistics officer at Toys “R” Us.

April 29, 2014

Coach Inc. third-quarter net income dropped 20% to $190.7 million, from $238.9 million a year earlier, amid increased competition from Michael Kors and others.

New York -- Coach Inc. third-quarter net income dropped 20% to $190.7 million, from $238.9 million a year earlier, amid increased competition from Michael Kors and others.

Revenue for the quarter ended March 29 fell 7.4% to $1.1 billion, compared to analysts’ $1.13 billion estimate. Same-store sales in North America fell 21%. Sales will continue to fall through the rest of the year, the company said.

February 4, 2014

Global luxury retailer Michael Kors increased net income during the third quarter of fiscal 2014 77% to $229.6 million from $130 million in the third quarter of fiscal 2013.

Hong Kong – Global luxury retailer Michael Kors increased net income during the third quarter of fiscal 2014 77% to $229.6 million from $130 million in the third quarter of fiscal 2013. Retail net sales grew 51.3% to $503.4 million, driven by a 27.8% increase in same-store sales and 98 net new store openings since the end of the third quarter of fiscal 2013.

August 6, 2013

Fashion presence Michael Kors Holdings Ltd. reported a first-quarter profit of $125 million, nearly double the $68.6 million profit of the year-ago period.

New York -- Fashion presence Michael Kors Holdings Ltd. reported a first-quarter profit of $125 million, nearly double the $68.6 million profit of the year-ago period.

Revenue for the quarter ended June 29 soared 54% percent to $640.9 million, well above Wall Street’s expected $570.5 million. Same-store sales climbed 27.3%. In North America, which generates 86% of the company's business, same-store sales rose 25%.

July 12, 2013

Michael Kors is suing Costco Corp., accusing the chain of illegally using pictures of its pocketbooks in its ads to attract customers, according to the Associated Press.

New York -- Michael Kors is suing Costco Corp., accusing the chain of illegally using pictures of its pocketbooks in its ads to attract customers, according to the Associated Press. Michael Kors said Costco was not authorized to sell the designer's goods.

In a federal lawsuit, Michael Kors accused Costco of using the bags as a lure. It claimed Costco advertised the bags as starting at $99, but didn't actually have any to sell, the report said.

 

May 31, 2013

Michael Kors Holdings Ltd. is on a roll. The white-hot luxury fashion and accessories company plans to open up to 50 stores in North America in its current fiscal year, plus additional units in Europe and the Far East. Michael Kors currently has 44 stores in Europe, with another 40 planned for its new fiscal year.

New York -- Michael Kors Holdings Ltd. is on a roll. The white-hot luxury fashion and accessories company plans to open up to 50 stores in North America in its current fiscal year, plus additional units in Europe and the Far East. Michael Kors currently has 44 stores in Europe, with another 40 planned for its new fiscal year. 

May 29, 2013

Michael Kors Holdings Ltd. reported better-than-expected net income of $101.1 million, compared with a year-earlier profit of $43.6 million, on strong demand for its products around the globe.

New York -- Michael Kors Holdings Ltd. reported better-than-expected net income of $101.1 million, compared with a year-earlier profit of $43.6 million, on strong demand for its products around the globe.

Retail net sales increased 58.8% to $272.7 million driven by a 36.7% increase in comparable store sales and 67 net new store openings since the end of the fourth quarter of fiscal 2012.

Wholesale net sales increased 59.4% to $304.7 million and licensing revenue increased 15.7% to $19.8 million.

February 20, 2013

As shares of his company reached an all-time high, fashion designer and retailer Michael Kors will sell 3 million of his shares as part of a secondary offering of 25 million shares, according to a Tuesday regulatory filing.

New York -- As shares of his company reached an all-time high, fashion designer and retailer Michael Kors will sell 3 million of his shares as part of a secondary offering of 25 million shares, according to a Tuesday regulatory filing.

Kors' ownership in Michael Kors Holdings Inc. will fall to about 4.8 million shares, or 2.4%, down from 3.9% after the sale.

February 12, 2013

Michael Kors Holdings Ltd. reported that profit for the quarter ended Dec. 29 decreased to $636.8 million, compared with $373.6 million in the year-ago period.

New York -- Michael Kors Holdings Ltd. reported Tuesday that profit for the quarter ended Dec. 29 decreased to $636.8 million, compared with $373.6 million in the year-ago period.

However, the designer and retailer forecasted fiscal 2013 profit at more than double its year-earlier performance.   

Revenue surged 70% in the third quarter, fueled by strength in the accessories category, and the company predicts that fiscal 2013 sales will leap 62%.
 

August 14, 2012

Michael Kors Holdings Ltd. reported Tuesday that first-quarter profit more than doubled to $68.6 million, from $24.1 million in the year-ago period.

New York CIty -- Michael Kors Holdings Ltd. reported Tuesday that first-quarter profit more than doubled to $68.6 million, from $24.1 million in the year-ago period.

Revenue surged 71% to $414.9 million, after the company opened 76 new stores and grew same-store sales by 37%. Wall Street forecast revenue of $368.3 million.
 

June 13, 2012

Macy’s, Sephora, Michael Kors and Lancome were ranked as Facebook “geniuses” in the second annual L2 Facebook IQ Index, developed in partnership with Buddy Media, a social enterprise software firm.

New York  -- Macy’s, Sephora, Michael Kors and Lancome were ranked as Facebook “geniuses” in the second annual L2 Facebook IQ Index, developed in partnership with Buddy Media, a social enterprise software firm.

June 12, 2012

Michael Kors Holdings Ltd. said that its fiscal fourth-quarter net income more than tripled as the company opened new stores and demand grew for its fashions and accessories.

New York -- Michael Kors Holdings Ltd. said Tuesday that its fiscal fourth-quarter net income more than tripled as the company opened new stores and demand grew for its fashions and accessories.

For the three months through March 31, Michael Kors earned $43.6 million, up from $13.6 million in the same quarter last year.

Revenue rose 58% to $380 million, from $240 million. Same-store sales jumped 36%.

Michael Kors opened 71 stores this year, bringing its store count to 237. Retail sales rose 80% to $172.2 million.

December 2, 2011

Michael Kors Holdings Ltd. is looking to raise as much as $792.3 million in an initial public offering that could value the company at $3.63 billion.

New York City -- Michael Kors Holdings Ltd. is looking to raise as much as $792.3 million in an initial public offering that could value the company at $3.63 billion.

The luxury brand, which has 169 stores in North America and 34 in Europe and Japan, said in a regulatory filing that it is offering 41.7 million shares on behalf of existing shareholders for $17 to $19 each.

October 4, 2011

Noted fashion designer and retailer Michael Kors has opened a new store in Cherry Hill, N.J. — at the Cherry Hill Mall, a property owned by Philadelphia-based Pennsylvania Real Estate Investment Trust.

Cherry Hill, N.J. — Noted fashion designer and retailer Michael Kors has opened a new store in Cherry Hill, N.J. — at the Cherry Hill Mall, a property owned by Philadelphia-based Pennsylvania Real Estate Investment Trust.

The store opening is part of the mall’s $200 million complete renaissance, which includes the addition of white-linen restaurants, a new parking deck, the addition of an upscale retail wing, a redesigned and relocated food court now called Cherry Hill Cafés, and extensive interior and exterior renovations.

September 6, 2010

Real estate firm Beck Street Capital said Tuesday that Michael Kors has signed a 12-year...

September 1, 2010

Michael Kors said that it will open a new lifestyle store in Seattle’s Pacific Place....