Michael Kors was valued 10 billion dollars

With the changing global fashion industry pattern, the American light luxury group Michael Kors will enter a new high growth period. In the past year, Michael Kors group’s share price has risen by about 60%, and the market value has returned to $10 billion. In the second quarter ended September 30, 2017, Michael Kors sales increased 5.4% to 1 billion 150 million yuan compared to the same period last year, and net profit was 202 million 900 thousand dollars, ending the downturn in group sales. Michael Kors will release the performance report of the third quarter in February 6th.

In the 9 months ended December 31, 2017, the sales net sales of L’OCCITANE L’OCCITANE group at fixed exchange rate increased by 3% to 1 billion euros compared with the same period last year. Due to the unfavorable foreign exchange rate, the sales calculated at the reported exchange rate decreased by 0.6% compared with the same period last year. During the period, its direct sales accounted for 74.1% of the net sales, up to 742 million euros, while the same store sales growth was further improved to 1.4%, mainly due to the strong growth in the mainland China and other regions during the holiday season.

The day before, american apparel retailer Abercrombie & Fitch raised in the latest statement released on February 3rd the end of the 2017 fiscal year fourth quarter earnings expectations, is expected to be recorded the same store sales growth in the number of units. In addition, the executive chairman of the group, Arthur Martinez, will retire in February 3rd and will be taken over by the non executive director Terry L. Burman. After the news, the group’s share price rose 12.6% to $22.43 a share yesterday, with a market value of about $1 billion 530 million.