Michael Kors to Add 50 Stores in North America
Michael Kors Holdings is on a roll. The white-hot luxury fashion and accessories company plans to open up to 50 stores in North America in its current fiscal year, plus additional units in Europe and the Far East. Michael Kors currently has 44 stores in Europe, with another 40 planned for its new fiscal year. The brand reported last week that its profit more than doubled on surging sales in the fourth quarter, ended March 30, topping another strong year for the company. Net income was $101.1 million, up from $43.6 million in the year-ago period.