Home / Knowledge / News / Apparel/Garments / Michael Kors net sale skyrockets in FY'12
Michael Kors net sale skyrockets in FY'12
13
Jun '12

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:

  • Total revenue for the fourth quarter increased 58.3% to $380.0 million from $240.0 million in the fourth quarter of fiscal 2011.
  • Retail net sales increased 80.3% to $172.2 million driven by 71 new store openings since the end of last year and a 36.1% increase in comparable store sales. Wholesale net sales increased 45.5% to $190.7 million and royalty revenue increased 26.9% to $17.1 million.
  • Gross profit for the fourth quarter increased 63.4% to $219.1 million, and as a percentage of total revenue increased to 57.7% compared to 55.9% in the fourth quarter of fiscal 2011.
  • Income from operations for the fourth quarter increased 84.9% to $78.8 million, and as a percentage of total revenue was 20.7%. Excluding a $2.0 million reimbursement of professional fees associated with the Company’s initial public offering (“IPO”) in December 2011, income from operations for the fourth quarter was $76.8 million, or 20.2% as a percentage of total revenue.
  • This compares to income from operations for the fourth quarter of fiscal 2011 of $42.6 million, or 17.8% as a percentage of total revenue.
  • Net income for the fourth quarter was $43.6 million, or $0.22 per diluted share based on 196.9 million weighted average diluted shares outstanding.
  • Excluding the aforementioned credit, net income was $41.6 million, or $0.21 per diluted share. Net income for the fourth quarter of fiscal 2011 was $17.4 million, or $0.10 per diluted share based on 179.2 million weighted average diluted shares outstanding.

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.


Must ReadView All

Bangladesh garment exports rise 7.46% in July-Nov '17

Apparel/Garments | On 11th Dec 2017

Bangladesh garment exports rise 7.46% in July-Nov '17

Readymade garment exports from Bangladesh increased 7.46 per cent in...

Karl Mayer opens new workshop in Vietnam

Textiles | On 11th Dec 2017

Karl Mayer opens new workshop in Vietnam

Karl Mayer, Germany’s leading textile machinery firm, has announced...

Cotton USA promotes cotton at TITAS Taiwan tradeshow

Textiles | On 11th Dec 2017

Cotton USA promotes cotton at TITAS Taiwan tradeshow

Cotton USA, which promotes US cotton fibre and manufactured cotton...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search