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Recently, the American luxury brand light MichaelKorsHoldingsLtd. Announced the third quarter of fiscal year 2014/2015 (October to December 2014) results. MichaelKors overall sales for the quarter amounted to $ 1.31 billion, an increase of 29.9%, the growth rate is slowing down, significantly lower than the 42.7% in cheap michael kors handbags the first quarter and 54.5% in the second quarter. At constant exchange rates, sales rose by 32.6%.
Announcements, MichaelKors slowdown trend spread to the second largest market in Europe, the local same-store sales excluding currency effects before and after the increase, respectively, 21.2% and 29.9%, well below the 41.1 percent in the second quarter. michael kors handbags cheap Same-store sales in Japan grew 35.4%, after growth of 54.4% excluding currency effects, slightly higher than 52.9% over the second quarter.
In the luxury experts, dean of Fortune Character Institute Zhou Ting seems, MichaelKors is currently "under the fast-fast" situation. "Whether or MichaelKors KateSpade, are facing the same four major issues - the continued negative growth in profits, a serious decline in same-store sales, inventory pressures rising, michael kors cheap handbags the lack of sales growth momentum."
Although MichaelKors third quarter gross profit rose 29.2% to $ 800.1 million, but gross margin fell by a substantial discount but dragged 0.3 percentage points, from 61.2% in fiscal year 2014 fell 60.9% over the same period. UBS analyst ChristianBuss analysts said, MichaelKors12 month on its website as much as 65% discount, the other hand, its main competitor Coach and KateSpade were reduced by a discount promotional efforts. Operating profit was $ 418.5 million, representing a year-on-year increase of 21.9%, cheap mk handbags operating margin declined significantly by 2.1 percentage points to 31.8%. Net profit rose 32.3% to $ 304 million, and diluted earnings per share of $ 1.11 from the same period last year rose to $ 1.48, the market expected $ 1.33. The growth rate of the three profit targets than the second quarter narrowed.
MichaelKors said the fourth quarter of this fiscal year, sales revenue is estimated at 1.05 billion - $ 1.08 billion, lower than analysts had forecast. 2014/2015 fiscal year sales revenue mk handbags cheap is expected to reach $ 4.4 billion.
By the end of the third quarter of 2014, the group has 509 directly managed retail stores, through authorized business partners have 194 shops.