Michael Kors reports 70 percent increase in revenues for the Q3
American fashion house Michael Kors reported today an impressive 70.4% increase in its revenue to $636.8 million from $373.6 million in the third quarter of fiscal 2012.
Retail net sales increased 66.8% to $332.6 million driven by a 41.4% increase in comparable store sales and 66 net new store openings since the end of the third quarter of fiscal 2012.
Wholesale net sales increased 77.4% to $274.3 million and licensing revenue increased 52.1% to $29.8 million.
For the fourth quarter of fiscal 2013, the Company expects total revenue to be in the range of $515 million to $525 million.