Michael Kors Shares Tumble After Forecast Misses Estimates

Michael Kors Holdings Ltd. suffered the biggest stock plunge in its history after the fashion house posted a surprise decline in North American sales and gave a dim forecast for the coming year.

The stock tumbled 24 percent to $45.93 at the close in New York, the biggest one-day decline since the initial public offering in 2011. Kors shares have slid 39 percent this year.