NEW YORK — The momentum continues at Michael Kors Holdings Ltd., with shares of the firm spiking up 16.5 percent after the fashion brand posted first-quarter results that saw profits more than triple on a revenue gain of 70.6 percent.
For the three months ended June 30, income attributable to common shareholders was $68.6 million, or 34 cents a diluted share, from $18.9 million, or 13 cents, last year. Total revenues rose to $414.9 million from $243.1 million, which included a total sales gain of 71.1 percent to $397.4 million. The balance of the revenue included a 61.3 percent jump in licensing income to $17.5 million, boosted in part by strong watch sales.
"I love to fight and I got into a lot of trouble, so instead, I thought I'd do it professionally," says Bellator MMA fighter Liam McGeary. #wwdfashion (📷: @andyboyle; Interview by @jeanpalmieri; Styled by @thealexbadia)