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Skip to content Primary Menu About Contact Us Disclaimer Privacy Policy Terms And Conditions Of Use How to use flowers in your daily life? April 13, 2017 . Uncategorized by echo . Leave a comment

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Read More Krista McDonough Promoted to General Counsel for Michael Kors September 30, 2016 . Michael Kors Press Releases by echo . Leave a comment

LONDON–(BUSINESS WIRE)– Michael Kors (NYSE:KORS), a global luxury lifestyle brand, is pleased to announce that effective October 1, Krista McDonough will be promoted to the position of Senior Vice President, General Counsel, reporting to John Idol, Chairman & Chief Executive Officer.

Krista McDonough joined Michael Kors in 2011, and has been Deputy General Counsel since June 2015. Previously she was at Paul, Weiss, Rifkind, Wharton & Garrison LLP. She has a law degree from New York Law School.

“Since joining Michael Kors, Krista has been an integral part of the Legal Department. She brings many strengths to this position,” says Mr. Idol, “including valuable experience in corporate governance, securities law, employment matters and intellectual property enforcement.”

Ms. McDonough succeeds Lee Sporn who, after 13 years as Michael Kors’ General Counsel, is retiring to become a full-time law professor. “I am very grateful for Lee’s many contributions to Michael Kors,” says Mr. Idol. “He has been a strong and important partner to me and to the leadership team.”

About Michael Kors

Michael Kors is a world-renowned, award-winning designer of luxury accessories and ready-to-wear. His namesake company, established in 1981, currently produces a range of products under Michael Kors Collection, MICHAEL Michael Kors and Michael Kors Mens, including accessories, footwear, watches, jewelry, ready-to-wear and a full line of fragrance products. Michael Kors stores are operated, either directly or through licensing partners, in some of the most prestigious cities in the world, including New York, Beverly Hills, Chicago, London, Milan, Paris, Munich, Istanbul, Dubai, Seoul, Tokyo and Hong Kong.

Forward-Looking Statements

This press release contains forward-looking statements. You should not place undue reliance on such statements because they are subject to numerous uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements include information concerning the Company’s possible or assumed future results of operations, including descriptions of its business strategy. These statements often include words such as “may,” “will,” “should,” “believe,” “expect,” “seek,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. The forward-looking statements contained in this press release are based on assumptions that the Company has made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors that it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual financial results or results of operations and could cause actual results to differ materially from those in these forward-looking statements. These factors are more fully discussed in the “Risk Factors” section and elsewhere in the Company’s Annual Report on Form 10-K for the fiscal year ended April 2, 2016 (File No. 001-35368), filed on June 1, 2016 with the U.S. Securities and Exchange Commission.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160930005059/en/

Source: Michael Kors

ICR, Inc. Jean Fontana, 203-682-1214 jean.fontana@icrinc.com or Media: ICR, Inc. Alecia Pulman, 646-277-1231 KorsPR@icrinc.com

Original Article

Read More Introducing Michael Kors Access Wearable Technology: Time for Fashion to Meet the Future September 6, 2016 . Michael Kors Press Releases by echo . Leave a comment

LONDON–(BUSINESS WIRE)– Michael Kors (NYSE:KORS), a global luxury lifestyle brand, is excited to introduce the MICHAEL KORS ACCESS display smartwatch, part of its new wearable technology accessories line. The line is geared towards the fashion-focused consumer and combines innovative technology with exceptional style from a leader in luxury fashion.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160906005376/en/

Michael Kors Access Smartwatch

The cutting-edge technology at the heart of the MICHAEL KORS ACCESS smartwatch, which is compatible with both iPhone® and Android™ phones, is made possible through a partnership with Google, using their Android Wear™ smartwatch platform.

Designed to show that technology and social connectivity should be seamless, the MICHAEL KORS ACCESS line, which also includes activity trackers, proves that access can be both glamorous and effortless. “Our customers love fashion and they’re plugged in 24/7,” says Michael Kors. “I think they’ll appreciate having social connectivity and health and fitness tracking all within a great-looking accessory.”

MICHAEL KORS ACCESS smartwatches offer customizable features perfect for our fans:

Exclusive Michael Kors display watch faces, which change with a swipe—whether it’s a digital chronograph design for the gym or glittering, animated pavé for night Hundreds of possible combinations of display face, color and sub dials A touchscreen display smartwatch powered by Android Wear that provides:

Social media updates and text and email alerts App notifications Smart help from Google Built-in fitness tracking Interchangeable leather and silicone wristbands Glamorous versions for women and sporty versions for men Magnetic charging The Qualcomm® Snapdragon™ Wear 2100, a system-on-a-chip (SoC) designed to ensure a highly interactive touch screen experience

“We’re excited to offer our customers smart, great-looking watches that will help them to stay on top of their daily lives while uniquely expressing their personal style,” says John Idol, Chairman and CEO of Michael Kors.

The Michael Kors customer lives a busy, fast-paced life and the MICHAEL KORS ACCESS collection will let him or her stay connected. “From Google Search to smartwatches, Google strives to give you the information you need to stay connected to what matters most,” says David Singleton, VP of Engineering for Android Wear. “MICHAEL KORS ACCESS and Android Wear move the wearables category forward with smart, beautiful watches that help you stay on top of your daily life while expressing your personal style.”

MICHAEL KORS ACCESS will be launched in 18 countries via a global digital and print advertising campaign, including a video featuring Zendaya and Martha Hunt. The video follows the two models on a jam-packed day in New York City—from morning workouts to a glamorous evening party. Throughout the day, Michael Kors Access smartwatches keep them in sync and looking chic—proof that with the right accessory, you really can #AccessItAll. You can watch the video here: https://youtu.be/vV7_aaSKNU0.

The MICHAEL KORS ACCESS smartwatches start at $350 USD. The activity trackers start at $95 USD. Both are available in Michael Kors stores, MichaelKors.com and select department and specialty stores.

For more information, please visit the following:

Michael Kors Access: http://www.michaelkors.com/Access

Destination Kors: http://www.destinationkors.com/

Michael Kors on Facebook: http://www.facebook.com/michaelkors

@MichaelKors on Twitter: http://twitter.com/michaelkors

@MichaelKors on Instagram: http://instagram.com/michaelkors

Michael Kors on Pinterest: http://pinterest.com/michaelkors.com

@MichaelKors on Weibo: http://weibo.com/michaelkors

Search for “Michael Kors” on Weixin and WeChat

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Android Wear™ requires a phone running Android 4.3+ or iOS 8.2+. Supported features may vary between platforms. Visit g.co/wearcheck on your Android phone or iPhone® to see if your device is compatible.

Google, Android and Android Wear are trademarks of Google Inc.

iPhone is a trademark of Apple, Inc. Qualcomm and Snapdragon are trademarks of Qualcomm Incorporated.

About Michael Kors

Michael Kors is a world-renowned, award-winning designer of luxury accessories and ready-to-wear. His namesake company, established in 1981, currently produces a range of products under Michael Kors Collection, MICHAEL Michael Kors and Michael Kors Mens, including accessories, footwear, watches, jewelry, ready-to-wear and a full line of fragrance products. Michael Kors stores are operated, either directly or through licensing partners, in some of the most prestigious cities in the world, including New York, Beverly Hills, Chicago, London, Milan, Paris, Munich, Istanbul, Dubai, Seoul, Tokyo and Hong Kong.

Forward-Looking Statements

This press release contains forward-looking statements. You should not place undue reliance on such statements because they are subject to numerous uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements include information concerning the Company’s possible or assumed future results of operations, including descriptions of its business strategy. These statements often include words such as “may,” “will,” “should,” “believe,” “expect,” “seek,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. The forward-looking statements contained in this press release are based on assumptions that the Company has made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors that it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual financial results or results of operations and could cause actual results to differ materially from those in these forward-looking statements. These factors are more fully discussed in the “Risk Factors” section and elsewhere in the Company’s Annual Report on Form 10-K for the fiscal year ended April 2, 2016 (File No. 001-35368), filed on June 1, 2016 with the U.S. Securities and Exchange Commission.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160906005376/en/

Source: Michael Kors

ICR, Inc. Jean Fontana, 203-682-1214 jean.fontana@icrinc.com Alecia Pulman, 646-277-1231 (Media) KorsPR@icrinc.com

Original Article

Read More Michael Kors Holdings Limited Announces Participation at the Goldman Sachs 23rd Annual Global Retailing Conference August 31, 2016 . Michael Kors Press Releases by echo . Leave a comment

LONDON–(BUSINESS WIRE)– Michael Kors Holdings Limited (NYSE:KORS) today announced that the company will be presenting at the Goldman Sachs 23rd Annual Global Retailing Conference, held at the Plaza Hotel, on Wednesday, September 7, 2016, at 8:50 AM ET. John D. Idol, Chairman, Chief Executive Officer and Director, and Joseph B. Parsons, Executive Vice President, Chief Financial Officer, Chief Operating Officer & Treasurer, will host the presentation.

The audio portion of the presentation will be webcast live at www.michaelkors.com under the Investor Relations section. An archived replay will be available two hours after the conclusion of the live event.

About Michael Kors Holdings

Michael Kors is a world-renowned, award-winning designer of luxury accessories and ready-to-wear. His namesake company, established in 1981, currently produces a range of products under Michael Kors Collection, MICHAEL Michael Kors and Michael Kors Mens, including accessories, footwear, watches, jewelry, ready-to-wear and a full line of fragrance products. Michael Kors stores are operated, either directly or through licensing partners, in some of the most prestigious cities in the world, including New York, Beverly Hills, Chicago, London, Milan, Paris, Munich, Istanbul, Dubai, Seoul, Tokyo and Hong Kong.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160831005369/en/

Source: Michael Kors Holdings Limited

ICR, Inc. Jean Fontana, (203) 682-8200 jean.fontana@icrinc.com or Media: ICR, Inc. Alecia Pulman, (646) 277-1231 KorsPR@icrinc.com

Original Article

Read More Michael Kors Holdings Limited Announces First Quarter Fiscal 2017 Results August 10, 2016 . Michael Kors Press Releases by echo . Leave a comment

First Quarter Total Revenue Increased 0.2%

First Quarter Diluted EPS was $0.83 ($0.88 excluding one-time transaction costs)

LONDON–(BUSINESS WIRE)– Michael Kors Holdings Limited (NYSE:KORS) (the “Company”), a global luxury lifestyle brand, today announced its financial results for the fiscal 2017 first quarter ended July 2, 2016.

For the first quarter ended July 2, 2016:

Total revenue increased 0.2% to $987.9 million from $986.0 million in the first quarter of fiscal 2016. On a constant currency basis, total revenue was flat versus the prior fiscal year. Retail net sales increased 7.6% to $562.9 million driven primarily by 221 net new store openings since the end of the first quarter of fiscal 2016, including 145 stores associated with the Company's recent acquisitions of Greater China and South Korea and the consolidation of the Latin American operations. Comparable sales decreased 7.4%. On a constant currency basis, retail net sales grew 7.4%, and comparable sales decreased 7.6%. Wholesale net sales decreased 7.0% to $394.4 million and on a constant currency basis, wholesale net sales decreased 7.2%. Licensing revenue decreased 20.9% to $30.6 million. Total revenue in the Americas decreased 5.0% to $690.8 million on a reported basis and decreased 4.8% on a constant currency basis. European revenue grew 3.3% to $224.0 million on a reported basis, and grew 2.9% on a constant currency basis. Revenue in Asia increased 74.5% to $73.1 million on a reported basis, and increased 67.7% on a constant currency basis. Gross profit decreased 2.0% to $591.3 million, and as a percentage of total revenue was 59.9%. Foreign currency translation and transaction negatively impacted gross profit margin by approximately 100 basis points. This compares to gross margin of 61.2% in the first quarter of fiscal 2016. Income from operations was $186.9 million, or 18.9% as a percentage of total revenue. This compares to $248.6 million, or 25.2% as a percentage of total revenue, for the first quarter of fiscal 2016. Net income attributable to MKHL was $147.1 million, or $0.83 per diluted share, based on a 21.2% tax rate and 176.6 million weighted average diluted shares outstanding. Excluding $8.9 million after-tax, or $0.05 per diluted share, of one-time costs related to the acquisition of the Company's Greater China licensee, net income attributable to MKHL for the first quarter of fiscal 2017 was $156.0 million, or $0.88 per diluted share. Net income attributable to MKHL for the first quarter of fiscal 2016 was $174.4 million, or $0.87 per diluted share, based on a 29.4% tax rate and 200.1 million weighted average diluted shares outstanding. At July 2, 2016, the Company operated 771 retail stores, including concessions, compared to 550 retail stores, including concessions, at the end of the same prior-year period. The Company had 110 additional retail stores, including concessions, operated through licensing partners. Including licensed locations, there were 881 Michael Kors stores worldwide at the end of the first quarter of fiscal 2017.

John D. Idol, the Company’s Chairman and Chief Executive Officer, said, “We are pleased to have once again exceeded our first quarter revenue and earnings per share expectations. We delivered another quarter of strong growth in our North American digital flagships, further expanded our presence globally, particularly in Asia, and expanded our fashion product offerings. However, this progress was muted by the continued decline in mall traffic trends as well as a decrease in tourism in certain major cities which negatively impacted our comparable sales performance during the quarter. Looking ahead, we remain focused on executing against our long-term growth strategies across both product categories and regions. For the Fall season, we are excited about the launch of several new digital flagships in Europe, the debut of our Michael Kors ACCESS line of smartwatches and trackers and our new Wonderlust fragrance, as well as the continued development of our men's business. Overall, we are on track to deliver on our revenue and earnings per share goals for the year.”

Share Repurchase Program

During the first quarter, the Company repurchased 8,025,749 of the Company's ordinary shares for approximately $400.0 million in open market transactions. As of July 2, 2016, the remaining availability under the Company’s share repurchase program was $600.0 million. Share repurchases may be made in open market or privately negotiated transactions, subject to market conditions, applicable legal requirements, trading restrictions under the Company’s insider trading policy, and other relevant factors. The program may be suspended or discontinued at any time.

Balance Sheet

As of July 2, 2016, the Company had $248.6 million of debt, which was recorded within short-term debt in its Consolidated Balance Sheet. This debt consisted of borrowings under the Company's revolving credit facilities. The amount available for future borrowings is approximately $749.4 million.

Outlook

For the second quarter of fiscal 2017, the Company expects total revenue to be between $1.07 billion and $1.085 billion, which includes a planned reduction in wholesale shipments, and comparable sales to decrease in the mid-single digit range. The Company expects an increase in gross margin of approximately 100 to 130 basis points, driven by favorable geographic and channel mix shift. The Company expects an increase in operating expense primarily due to continued investments in international expansion, digital flagships, and global infrastructure. Operating expense as a percentage of total revenue is expected to increase 790 to 820 basis points. Diluted earnings per share are expected to be in the range of $0.84 to $0.88 for the second quarter of fiscal 2017. This assumes 171 million weighted average diluted shares outstanding and a tax rate of approximately 21%.

For fiscal 2017, the Company expects total revenue to be flat versus the prior year and comparable sales to decrease in the mid-single digit range. Operating margin is expected to be approximately 21.5% on a non-GAAP basis, excluding the one-time acquisition related costs, and approximately 21.3% on a GAAP basis, including the one-time costs. For fiscal 2017, diluted earnings per share are expected to be in the range of $4.56 to $4.64 on a non-GAAP basis, excluding the one-time costs, and $4.51 to $4.59 on a GAAP basis, including the one-time costs. This assumes 171 million weighted average diluted shares outstanding and a tax rate of approximately 21%.

Conference Call Information

A conference call to discuss first quarter results is scheduled for today, August 10, 2016 at 8:00 a.m. ET. A replay of the call will be available today at 11:00 a.m. ET; to access the replay, dial (877) 870-5176 for domestic callers or dial (858) 384-5517 for international callers and enter access code 5048309. The conference call will also be webcast live in the investor relations section of www.michaelkors.com. The webcast will be accessible on the website for approximately 90 days after the call.

Use of Non-GAAP Financial Measures

Constant currency effects are non-GAAP financial measures, which are provided to supplement our reported operating results to facilitate comparisons of our operating results and trends in our business, excluding the effects of foreign currency rate fluctuations. Because we are a global Company, foreign currency exchange rates may have a significant effect on our reported results. We calculate constant currency measures and the related foreign currency impacts by translating the current-year’s reported amounts into comparable amounts using prior year’s foreign exchange rates for each currency. All constant currency performance measures discussed below should be considered a supplement to and not in lieu of our operating performance measures calculated in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”).

Additionally, this earnings release includes certain non-GAAP financial measures relating to certain one-time costs associated with the acquisition of the Greater China licensee. The Company uses non-GAAP financial measures, among other things, to evaluate its operating performance and in order to represent the manner in which the Company conducts and views its business. The Company believes that excluding non-recurring items helps its management and investors compare operating performance based on its ongoing operations. While the Company considers the non-GAAP measures to be useful supplemental measures in analyzing its results, they are not intended to replace, nor act as a substitute for, any amounts presented in its consolidated financial statements prepared in conformity with U.S. GAAP and may be different from non-GAAP measures reported by other companies.

About Michael Kors

Michael Kors is a world-renowned, award-winning designer of luxury accessories and ready-to-wear. His namesake company, established in 1981, currently produces a range of products under Michael Kors Collection, MICHAEL Michael Kors and Michael Kors Mens, including accessories, footwear, watches, jewelry, ready-to-wear and a full line of fragrance products. Michael Kors stores are operated, either directly or through licensing partners, in some of the most prestigious cities in the world, including New York, Beverly Hills, Chicago, London, Milan, Paris, Munich, Istanbul, Dubai, Seoul, Tokyo and Hong Kong.

Forward Looking Statements

This press release contains forward-looking statements. You should not place undue reliance on such statements because they are subject to numerous uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements include information concerning the Company’s possible or assumed future results of operations, including descriptions of its business strategy. These statements often include words such as “may,” “will,” “should,” “believe,” “expect,” “seek,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. The forward-looking statements contained in this press release are based on assumptions that the Company has made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors that it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual financial results or results of operations and could cause actual results to differ materially from those in these forward-looking statements.