Michael Kors Slides Most in Almost 16 Months
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Michael Kors Holdings Ltd. is struggling to convince shoppers in its home market to buy its handbags, even as demand surges abroad.
Retail sales of the Michael Kors brand in the Americas fell by 2.5 percent in the latest quarter, excluding wholesale and licensing revenue, the lowest fiscal-fourth-quarter regional tally since March 2014. At the same time, the high-end brand saw double-digit sales jumps in its smaller European and Asian markets.