, Columnist
Michael Kors and E-Commerce Reality
The handbag maker says online sales are less profitable than those made at stores.
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Michael Kors just admitted what other retailers have been reluctant to concede: E-commerce isn't as profitable as brick-and-mortar stores.
The handbag retailer's shares rose as much as 26 percent on Tuesday after it said holiday sales at established locations fell by only 1 percent, a better showing than investors had feared. (As we recently pointed out after Coach's earnings, less bad seems to be just good enough to do the trick these days.)