Michael Kors Holdings Ltd. is suffering from the department store doldrums — but a lot of its ills are of the brand's own making.
The middle-market handbag segment is being squeezed worldwide, and Michael Kors is feeling the effects on its bottom line, which fell into a loss for the fourth quarter. John D. Idol, Michael Kors' chairman and chief executive officer, said Wednesday that the global accessories market for handbags and small leather goods is “roughly flat. We think that it’s down slightly in North America. We think it’s flattish in Europe. We think it’s up slightly in Asia.”
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)