Pursuits
Michael Kors Shares Tumble After Sales Suffer Slowdown
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Michael Kors Holdings Ltd. shares fell after North American sales missed estimates last quarter, raising concern that the handbag maker is losing cachet in its biggest market.
Same-store sales rose 6 percent in North America, the company said in a statement Thursday. Analysts had estimated 9.3 percent on average, according to Consensus Metrix. The stock dropped 2.3 percent to $69.77 at the close in New York.