Michael Kors continue stellar financial performance with 57% revenue increase in Q4
In the Fourth Quarter of fiscal year to 31st March 2013, Michael Kors reports 57 percent increase in its turnover, to $597 million – sales in the U.S. jumped by 35% and in Europe by 63%. Net profit for Michael Kors in Q4 reached $101 million compared to the $53 million, same period the previous year. Full year revenues reached a record $2,2 billion, a 67% increase compared to the year before.
Michael Kors expects earnings for First Quarter of 2013 fiscal year to reach $555-565 million, a 20% jump and estimates that total revenue for the new fiscal year would reach $ 2,65-2,75billion (+15-20%).