The revival of the light luxury brand Michael Kors

Net sales of retail channels grew 10.1% YoY to US $ 619 million, mainly due to the increase in 67 stores and companies from the first quarter of fiscal year 2017 to recover franchise in Greater China. Comparable sales fell 5.9% year on year. Net sales of wholesale channels fell 23% YoY to $ 303 million. Licensed operating income fell 5.6% YoY to $ 28.9 million.

From the regional point of view, the total market revenue in the Americas fell 8.2% to $ 634 million, at a constant exchange rate, down 7.9%; European market revenue fell 10.2% to 201 million US dollars, at constant exchange rate, Down 7.5%; Asian market revenue grew 60.2% year on year to $ 117 million, up 61.9% at constant exchange rates.

Gross margin fell 2.8% to $ 574 million and the gross margin was 60.3%. Which contributed 10 basis points to the exchange rate factor. The gross margin for the same period last year was 59.9%.

Operating profit of $ 149 million, accounting for 15.7% of total revenue. Operating profit for the same period last year was $ 186 million, accounting for 18.9% of total revenue.

Owned MKHL net profit of 125 million US dollars, diluted earnings per share of 0.8 US dollars, exceeding the company had expected 0.6 US dollars, the tax rate of 16.4%. The net profit attributable to MKHL for the same period last year was $ 147 million, with diluted earnings per share of $ 0.83 and a tax rate of 21.2%.

As of July 1, 2017, the company has 979 retail outlets in the global market, up from 771 in the same period last year, including 838 direct stores (including franchise stores) and 141 experienced by authorized partners Store (including franchise stores).