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Michael Kors comparable sales fall more than expected
February 7, 2017 / 12:16 PM / 10 months ago

Michael Kors comparable sales fall more than expected

Feb 7 (Reuters) - 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 Saumyadeb Chakrabarty)

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