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Must Read: Luxury Brands Open More Retail Outlets in London Despite Brexit, Michael Kors's Second Quarter Sales Failed to Impress Investors

13 days ago   |   By Fashionista

These are the stories making headlines in fashion on Wednesday. Luxury brands open more retail outlets in London despite Brexit While the prospect of Brexit is weighing on much of the British economy, luxury goods businesses are cashing in on bargain-hungry visitors lured by the weak pound. So...
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Michael Kors Raises Guidance as Revenues Rise 9.3 Percent

Michael Kors Raises Guidance as Revenues Rise 9.3 Percent

13 days ago   |   By WWD

Despite a second-quarter retail sales decline in Europe for the Michael Kors brand and a drop in Jimmy Choo revenues, Michael Kors Holdings Ltd. still raised full-year adjusted EPS guidance.
For the quarter ended Sept. 29, the company's results were mixed, by Wall Street's standards. It bested Wall Street's consensus estimate for adjusted EPS by 17 cents, but had a rare miss on revenue expectations even though overall revenues actually rose 9.3 percent.
Net income fell 32.3 percent to $137.6 million, or 91 cents a diluted share, from $202.9 million, or $1.32, a year ago. On an adjusted...
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