Reuters logo
BRIEF-Michael Kors to have 67 fewer promotional days in Q3 vs last yr
November 7, 2017 / 1:23 PM / 11 days ago

BRIEF-Michael Kors to have 67 fewer promotional days in Q3 vs last yr

Nov 7 (Reuters) - Michael Kors Holdings Ltd

* Michael Kors - Q2 women’s footwear global comparable sales saw double-digit growth -conf call

* Michael Kors - saw double-digit percent growth in Q2 women’s ready-to-wear global comparable sales -conf call

* Michael Kors - To launch campaign with Google to market its Access smart watches in the holiday season -conf call

* Michael Kors - saw increases in average unit retail across women’s accessories, footwear and ready-to-wear in Q2 -conf call

* Michael Kors - Q2 licensing revenue decreased 2.1 percent primarily due to declines in fashion watches and jewelry -conf call

* Michael Kors - expects sales decline in fashion watch category through 2H 2018 -conf call

* Michael Kors - Jimmy Choo will be incorporated into co’s results beginning November 1 -conf call

* Michael Kors CFO - “In the third quarter, we will be anniversary-ing the highest level of promotional activity in the prior year” -conf call

* Michael Kors CFO - new promotional strategy will result in 66 percent reduction in promotional days in co’s digital flagships, stores compared to prior year

* Michael Kors CFO - expect to have 67 fewer promotional days than last year in wholesale in Q3

* Michael Kors CFO - “We anticipate that sales will decrease more than our full year expectation of a low-teens decline”

* Michael Kors CFO - “(we expect Q3) wholesale gross margin will decline more than in previous quarters”

* Michael Kors - see opportunity to open additional Jimmy Choo stores, prominently in Europe and Asia - conf call Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below