Home / Knowledge / News / Apparel/Garments / Michael Kor's FY'13 sales skyrocket 67.5%
Michael Kor's FY'13 sales skyrocket 67.5%
30
May '13
Michael Kors Holdings Limited, a global luxury lifestyle brand, announced its financial results for the fourth quarter and fiscal year ended March 30, 2013.

John D. Idol, the Company’s Chairman and Chief Executive Officer, said, “Fiscal 2013 was another outstanding year for Michael Kors with continued momentum into the fourth quarter reflecting advances on our key growth strategies. Our jet-set luxury accessories and ready to wear are resonating with consumers worldwide and we are excited by our prospects for future growth.”

For the fiscal year ended March 30, 2013:

- Total revenue for the year increased 67.5% to $2.2 billion from $1.3 billion in fiscal 2012.

- Retail net sales increased 69.5% to $1.1 billion. Comparable store sales increased 40.1%. Wholesale net sales increased 69.2% to $1.0 billion and licensing revenue increased 33.5% to $87.0 million.

- Gross profit for the year increased 73.5% to $1.3 billion, and as a percentage of total revenue increased to 59.9% as compared to 57.8% in fiscal 2012.

- Income from operations for the year was $630.0 million and as a percentage of total revenue was 28.9%.

For fiscal 2012, income from operations was $247.7 million and included a $10.6 million equity compensation charge associated with equity grants for periods prior to fiscal 2012, $3.2 million in expenses associated with the Company’s IPO in December 2011 and a $10.7 million charge related to the employee share option redemption associated with our private placement. Excluding these charges, income from operations for fiscal 2012 was $272.1 million, or 20.9% as a percentage of total revenue.

- Net income for the year was $397.6 million, or $1.97 per diluted share, based on 201.5 million weighted average diluted shares outstanding. Net income for fiscal 2012 was $147.4 million, or $0.78 per diluted share, based on 189.3 million weighted average diluted shares outstanding. Excluding the aforementioned charges, net income for fiscal 2012 was $163.1 million, or $0.86 per diluted share.

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Unipar Carbocloro plant in the city of Cubatão, São Paulo state. Courtesy: Wikipedia

Textiles | On 10th Dec 2016

Brazil’s CADE clears Solvay’s 70.59% stake sale in Indupa

Brazil’s administrative council for economic defence (CADE) has...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search