Michael Kors reported another quarter of blistering sales growth as demand for its handbags and watches surged in North America. Shares of the company, founded by fashion designer Michael Kors, were up 3.4 percent premarket on Monday after the company also raised its full-year revenue and profit outlook. The company has overtaken closest rival Coach in market share as its core customers – women between the age of 20 and 35 – snap up its trendy clutches, watches and snakeskin handbags. The company’s handbags sell for $200 to $3,000, while watches are priced between $150 and $550. Michael Kors has posted sales growth of 40 percent or more in almost every quarter since going public in December 2011.
Thanks for checking us out. Please take a look at the rest of our videos and articles.
To stay in the loop, bookmark our homepage.