Michael Kors Holdings Limited announced its financial results for the fourth quarter and fiscal year ended March 31, 2012. TheCompany is a global luxury lifestyle brand with a multi-channel strategy, unique design and strong infrastructure that provides a platform for continued global growth.
John Idol, the Company’s Chairman and Chief Executive Officer, said, “We are pleased with our results for the quarter and the year, as we experienced strong growth in both total revenue and net income. This year we continued executing our key growth strategies, resulting in a 58.3% and 62.1% increase in total revenues for the quarter and year, respectively.”
For the fourth quarter ended March 31, 2012:
Mr. Idol continued, “Our results for the quarter were driven by strong performance across each of our retail, wholesale and licensing segments. Our North American comparable store sales increase was 37.2%, reflecting the strong demand for the Michael Kors luxury brand, our exciting assortment of fashion merchandise and our exceptional jet-set in-store experience.
“We also delivered significant growth in our wholesale segment, reflecting the strength of our brand and the favorable results from our transitin to shop-in-shops in department stores. In Europe, total revenue increased 122.6% for the quarter as a result of a 13.6% comparable store sales increase, in addition to strong performance in our wholesale operations.
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