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These efforts, however, are but to show the outcomes that investors are searching for. Kors said it expected revenue of $4.25 billion for fiscal year 2018. Also forecast a excessive single-digit drop in same-retailer gross sales. 25 billion for fiscal year 2018. Also forecast a excessive single-digit drop in identical-retailer sales. Analysts on average had estimated revenue of $4.37 billion, in line with Thomson Reuters I/B/E/S. “If you walk right into a Michael Kors store, they mainly have the same handbags over and over,” said Gabriella Santaniello, founder at analysis firm A-Line Partners. “It is principally an entire wall of the Mercer handbags -small and large – and one other wall of Hamilton bags,” she mentioned, referring to Kors’ flagship handbag strains. The company mentioned on Wednesday it would close 100-125 full-value shops over the following two years attributable to intense worth competition from different retailers. It expects to take $one hundred million-$125 million in associated one-time costs. For the fourth quarter ended April 1, total gross sales fell 11.2 % to $1.06 billion. Analysts had anticipated $1.05 billion.
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