World Footwear

Companies

Michael Kors with 32% increase in revenue

Jun 10, 2015 United States
Michael Kors with 32% increase in revenue
The global luxury lifestyle brand, announced fourth quarter revenue growing by 17.8% and total annual revenue up by 32%
John D. Idol, the Company’s Chairman and Chief Executive Officer, stated: “Fiscal 2015 marked another year of sales and earnings growth in excess of 30%. While we were faced with a number of headwinds in the fourth quarter, we were pleased with the strong performance across our segments and geographies. We believe that our results demonstrate the strength of the Michael Kors brand as our luxury products continue to resonate with consumers worldwide.”

For the fourth quarter, ended on the 28th of March, Michael Kors total revenue increased 17.8% to 1.1 billion US dollars from 917.5 million US dollars in the fourth quarter of fiscal 2014. On a constant currency basis, total revenue increased 23.3%.

Retail net sales increased 14.9% to 469.4 million US dollars driven by 121 net new store openings since the end of the fourth quarter of fiscal 2014 and ecommerce sales from the recently launched US ecommerce site. On a constant currency basis, retail net sales grew 21.1%. Wholesale net sales increased 20.4% to 570.4 million US dollars and on a constant currency basis, wholesale net sales grew 25.8%.

Total revenue in North America increased 13.7% to 840.5 million US dollars, with a 6.7% decrease in comparable store sales. On a constant currency basis, revenue in North America grew 14.3%, with a 5.8% decrease in comparable store sales. European revenue grew 33.5% to 219.8 million US dollars, with comparable store sales decreasing 5.6%. On a constant currency basis, revenue in Europe grew 59.5%, with an 11.0% increase in comparable store sales. Revenue in Japan increased 42.7% to 19.2 million, US dollars with comparable store sales growth of 12.4%. On a constant currency basis, revenue in Japan grew 65.0%, with a 30.0% increase in comparable store sales.

Net income for the period was 182.6 million US dollars, or 0.90 US dollars per diluted share.

Total revenue for the year increased 32.0% to 4.4 billion US dollars from 3.3 billion US dollars in fiscal 2014. On a constant currency basis, total revenue increased 34.3%.

Retail net sales increased 34.0% to 2.1 billion US dollars (36.7% in constant currency basis). Wholesale net sales increased 30.9% to 2.1 billion US dollars (constant currency 33.0%).

Net income for the year totalled 881.0 million US dollars.

Related Events

  • Oct
    15
    Oct 15-Oct 18, 2024 | Atlanta, United States

    Atlanta Apparel

  • Nov
    3
    Nov 3-Nov 4, 2024 | Michigan, United States

    Metro-Michigan Women's Wear Market

  • Nov
    6
    Nov 6-Nov 8, 2024 | Salt Lake City, Utah, United States

    Outdoor Retailer

  • Nov
    19
    Nov 19-Nov 21, 2024 | Austin, United States

    The Running Event (TRE)

Related Organizations

  • TUSPM Shoe Museum

    TUSPM Shoe Museum

    United States
  • FDRA - Footwear Distributors and Retailers of America

    FDRA - Footwear Distributors and Retailers of America

    United States
  • Fashion Design Office

    Fashion Design Office

    United States
  • Two Ten Footwear Foundation

    Two Ten Footwear Foundation

    United States