Michael Kors Feels The Holiday Cheer, Sales Surge

LONDON (AP) — Sales at Michael Kors surged during the holidays despite the company cutting back on discounts, pushing third-quarter profits well past most expectations. The results released Wednesday offered encouraging news for the brand, which is trying to reinvigorate itself by reducing discounts and its distribution to department stores. Kors, the seller of luxury handbags, clothing and accessories, had been hurt by overexpansion. Like many high-end retailers, Kors is trying to overhaul its business as affluent shoppers shift many of their purchases online, where there's an abundance of luxury goods at lower prices.

Topics:  london ap     sales   michael kors   ralph lauren   corp   kors   holiday   surge   offered   luxury   discounts   

 

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