Michael Kors 08401
Uncategorized / August 25, 2017

Michael Kors (NYSE:KORS), the luxury goods maker named after the award winning designer, is set to announce its Q1 2015 earnings today. Kors’ dresses and handbags can reach upwards of $4,000 and $2,000, respectively. The company has also introduced lower-priced lines of handbags ($400), watches ($300) and dresses ($200) in order to reach the masses. The brand catapulted into the nation’s consciousness when Mr. Kors was named one of the judges for “Project Runway” in 2004. In 2011 he took his luxury brand public and its growth has been impressive ever since, even after reaching significant scale. For fiscal year ended March 29, 2014, Kors had revenue and earnings of $3.3 billion and $661 million, respectively. Revenue grew 68% and 52% in FYE March 30, 2013 and FYE March 29, 2014, respectively. Earnings also grew 215% and 66% over the past two fiscal years. A lot of Kors’ growth has come at the expense of Coach, Inc. (NYSE:COH). According to Barclays, Kors’ share of the $11.4 billion North American premium handbag and accessories market has grown to 18% from 3% in 2009. Coach’s share has fallen from 35% to 24% over that period. During its June 19th Investor Day, Coach’s…