Content about Michael Kors Holdings Ltd.

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%.

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.

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%.

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 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 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.