In the third quarter, Michael Kors rose by 7% per share of $1.59 a year earlier than a year ago, more than analysts’ expected $1.46 per share, and a significant increase in the previous quarter, with the company’s earnings per share growth of only 1% in the last quarter.
According to the results, Michael Kors retail sales increased by 11.1% to $766 million 200 thousand last year. Since the end of the third quarter of 2015, the company has opened a total of 114 new stores. In addition, the company’s same store sales fell 0.9%, but compared with FactSet company’s forecast of 4.4% decline, 0.9% of the decline of Michael Kors is still optimistic.
Michael Kors spokesman said that profit growth came mainly from the Asian market and e-commerce business, thanks to strong sales in the Japanese market. By region, sales in Japan increased by 59%, while sales in Europe increased by 14%, but sales in the Americas grew by only 0.4%.
Although the financial report did not publish the specific sales data of the Chinese market, some industry sources told fashion headlines that China has become one of the most important potential markets for Michael Kors. By the third quarter, Michael Kors increased at least 20% in China’s market performance compared to the same period in China, and Michael Kors has continued in China. The experience of successful promotion of social media in the US headquarter has used digital marketing and bold innovation to capture the market of handbags accessories for young people in China.