Michael Kors house of fraser
Uncategorized / June 5, 2017

For the quarter, total revenue increased 6% on a reported basis. In constant currency, total revenue increased 10%, driven by growth across segments and geographies. Earnings per share increased 7% to $1.59 on a reported basis. And on a constant currency basis, earnings per share grew 11%. Our Retail business delivered solid results across all geographies, driven by strong double-digit sales growth in our digital flagship business and new store openings. On a constant currency basis, global comparable store sales increased 2%, which was ahead of our expectations and marked another quarter of sequential improvement. Importantly, while mall traffic in North America declined, we saw a significant increase in conversion rates in our own retail stores, which further illustrates the strength of the Michael Kors brand. On a constant currency basis, comp store sales rose in the low single digits in North America and Europe, and in the high double digits in Japan.While our Wholesale business was roughly flat for the quarter on a reported basis, we delivered results above our expectations, despite the challenging and highly promotional retail environment. In fact, while the North American department store channel was challenged, we believe our results continued to outpace the overall…