Jimmy Choo helps Michael Kors to strong quarter - footwearbiz: Leading

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Jimmy Choo helps Michael Kors to strong quarter

12/02/2018
US leathergoods group Michael Kors has reported revenue of $1.44 billion for the third quarter of the 2017/18 financial year (ended December 31), an increase of 6.5% compared to the same period of the previous year.

The company said its retail revenue increased 1.1% year on year, driven by 32 net new store openings since the end of the third quarter of 2016/17. Comparable sales were down 3.2%. Wholesale revenue fell 8.9% but licensing revenue increased 12.3%.

During the quarter, Michael Kors completed the integration of luxury shoe brand Jimmy Choo, which it acquired in November 2017 for $1.35 billion. The UK-based brand contributed $114.7 million in revenue during the two months it was part of the Michael Kors group. 

John Idol, Michael Kors chairman and CEO, said: “We are pleased with our third quarter performance, which delivered better than expected results and saw the successful integration of Jimmy Choo into our luxury group.”

Related stories:

Flat revenue for rebranded Michael Kors group 13/02/2019
Jimmy Choo contributes to Michael Kors growth 13/11/2018
Michael Kors to acquire Versace brand 01/10/2018
Michael Kors finalises $1.35 billion deal for Jimmy Choo 03/11/2017
European Commission approves Jimmy Choo acquisition 11/10/2017
Jimmy Choo shareholders back Michael Kors takeover 22/09/2017
Weak pound continues to boost Jimmy Choo 05/09/2017

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