Michael Kors, who has been seen as a US fancy representative, is struggling today, with the latest quarterly revenue shrinking 11.2 percent and a net loss of $ 26.8 million.
In the three months ended April 1 this year, the division recorded $ 1.06 billion in revenue, same-store sales fell 14.1%. Referring to the current negative growth, Michael Kors blamed the company for the overcoming of the discount to promote the department store channel narrowing strategy – its US regional wholesale business revenue in the latest quarter fell 22.1% year on year.
According to the regional division, Michael Kors in the Americas market sales fell 18% year on year, the European region rose 15.3%. The Asian market, which has been neglected, has shown an explosive growth of 96.3%, but the number of revenue figures is less than one-fifth of the Americas. John D. Idol, Chairman and Chief Executive Officer, plans to open stores this year in key Asian cities.
He said in his earnings, 2017 fiscal year is full of challenges, the retail environment has not improved, and the brand itself can not from the design, consumer experience and other aspects of stimulating sales. John D. Idol is expected to see a negative growth in the same quarter in the first quarter of 2018 fiscal year, while revenue is between $ 910 million and $ 3.9 billion.