06.08.2015 - Profit of Michael Kors has fallen once again
The Michael Kors’ profit fell for a second consecutive quarter amid decline in sales. Despite this, the rate of profit is better than analysts' expectations. Traditionally, the negative impact for the company was the strengthening of the US dollar. In the last quarter sales in the company's stores are open more than a year fell by 9.5% or 5.0% excluding the negative impact of a stronger dollar. Revenue rose by 7.3% to 986 million dollars. At the same time the company continues to increase the number of stores and opened 107 new stores during the period and increases online sales. We expect continued growth in the company's shares by 22-26% per annum in the medium term.