Feb 7 Apparel and accessories maker Michael Kors
Holdings Ltd reported a bigger-than-expected drop in
quarterly comparable sales, citing disappointing sales in North
America and Europe.
Michael Kors also warned that weakness in these regions,
which together account for most of its sales, would continue
throughout the spring season.
Comparable sales fell 6.9 percent in the third quarter ended
Dec. 31. Analysts on average had expected a 4.9 percent decline,
according to research firm Consensus Metrix.
Net income attributable to the company fell to $271.3
million, or $1.64 per share, from $294.6 million, or $1.59 per
share, a year earlier.
Total revenue fell to $1.35 billion from $1.4 billion.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by