Michael Kors reports upbeat Q2 results

Fashion accessories brand Michael Kors has reported strong Quarter 2 (Q2) results with its total revenue increasing by 42.7% to $1.1bn (£688m) from $740.3m (£464m). 

European revenue grew 108.6% to $237.9m (£149m), with comparable store sales increasing 41.1%.

Retail net sales increased 39.4% to $495.6m (£310m), according to the company this was driven by 121 net new store openings since the end of the second quarter of fiscal 2014 and a 16.4% increase in comparable store sales.

Profit was $207m (£129m), compared to $145.8m (£91m) for the same quarter last year.

John D Idol, chairman and CEO of Michael Kors, said, “Our strong second quarter results reflect our fashion leadership, aspirational product offering and jet-set luxury image that continue to resonate with customers globally.

“Once again, we delivered exceptional performance with both revenue and earnings per share growth in excess of 40%. This ongoing momentum reflects strength across our operating segments and geographies as we continue to expand our presence globally.”