Pursuits
Michael Kors Profit Tops Estimates as New Stores Boost Sales
- Retailer is investing in digital operations to spur revenue
- Handbag maker lowers annual forecast amid increased spending
Kors has been opening new international locations more quickly than it has been adding them in its core North American market, helping its revenue climb.
Photographer: Timur Emek/Getty ImagesThis article is for subscribers only.
Michael Kors Holdings Ltd., the seller of luxury handbags and clothing, posted second-quarter profit that topped analysts’ estimates as new retail locations boosted sales.
Earnings in the quarter through Sept. 26 were $1.01 a share, the company said in a statement on Wednesday. Analysts estimated 89 cents, on average.