By  on February 7, 2017

Michael Kors Holdings Ltd. remains on the hunt for acquisitions, but first it has to fix an urgent problem: sliding comparable-store sales in its core brand.

There’s no easy fix ahead, though, and Wall Street expressed its concern, sending Michael Kors shares down 10.8 percent to $36.82 on Tuesday after the company reported drops in profits and revenues for the third quarter and lowered guidance for fiscal 2017.

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