Michael Kors Holdings Ltd (KORS.N)
2 Jul 2015
NEW YORK, June 12 - Michael Kors Holdings Ltd agreed to pay $4.88 million and change its sales practices to settle a class action lawsuit claiming it used deceptive price tags at its outlet stores to fool shoppers into believing they were getting big bargains.
- U.S. stocks ended sharply higher on Wednesday and the Nasdaq logged a record high close, led by a rebound in technology and healthcare stocks and optimism that Greece would avoid defaulting on its debt. | Video
* Indexes end up: Dow 0.7 pct, S&P 0.9 pct, Nasdaq 1.5 pct (Updates to close)
* Tough competition, "brand fatigue" hit N. American handbag sales
* Indexes up: Dow 0.7 pct, S&P 0.7 pct, Nasdaq 1.3 pct (Updates to mid-afternoon)
* Indexes up: Dow 0.6 pct, S&P 0.7 pct, Nasdaq 0.9 pct (Updates to early afternoon)
* Indexes up: Dow 0.5 pct, S&P 0.6 pct, Nasdaq 0.8 pct (Adds details, changes comment, updates prices)
* Indexes up: Dow 0.2 pct, S&P 0.3 pct, Nasdaq 0.4 pct (Updates to open)
* Futures up: Dow 26 pts, S&P 2.5 pts, Nasdaq 6.50 pts (Adds details, comment, updates prices)
May 27 - Handbag maker Michael Kors Holdings Ltd reported the slowest sales growth in at least three and a half years as demand in North America weakened.