) missed quarterly revenue estimates and cut its full-year sales forecast on Wednesday, as the high-end fashion house struggled with slowing demand for its Michael Kors brand at department stores and at its own retail outlets.
The brand is also rolling back discounts and inventories at its own stores as it looks to drive more full-price sales. Michael Kors revenue decreased 4.8% to $981 million and sales at Jimmy Choo, Capri’s stiletto brand which is also foraying into handbags, fell 8.7% to $158 million in the reported quarter.
Retail is oversaturated with Michael Kors right now.
His stuff is Chinese junk. My $350 MK watch died after a few months.
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