Bags and shoes drive better-than-expected growth at Michael Kors
07/08/2015
CEO John Idol said: “Our first quarter performance reflects better-than-expected results in both our top and bottom line with growth across our North America, Europe and Asia regions.
"In addition, on a global basis we saw solid growth in accessories and footwear as these categories performed well in our retail stores and we experienced strong sell-through in our wholesale channel."
Revenues in North America increased 1.2% to $727.3 million, revenue grew 16.9% to $216.8 million in Europe and 32.7% to $19.6 million in Japan. Total revenues rose 7.3% to $986 million.
The company has 550 retail stores, including concessions, compared to 443 at the end of the same prior-year period.
For fiscal 2016, it expects total revenue of between $4.7 billion and $4.8 billion.
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