Michael Kors Repurchase Shares Of China'S Agency Is Very Brave

Last week because of the United States

The price war between Michael and Kors, which has been unsuccessful by investment banks, has recently declined.

But it is easy to hit back the rumors with the earnings report.

It is reported that in the fourth quarter of 2016 fiscal year ending April 2, 2016,

The group achieved a 10.9% revenue growth, and the fourth quarter revenue increased from $1 billion 81 million last year to $1 billion 198 million 700 thousand, better than the $1 billion 150 million expected by the market.

Therefore, the group also took the opportunity to announce that it will spend $500 million to recover the Greater China region.

And a $1 billion share repurchase program.

In addition, the net profit of the group declined by 3.1% to 177 million dollars in the fourth quarter.

Higher than the market forecast of 176 million dollars.

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MK, which has long been considered the most luxurious and favorite, has recently been "abandoned" by the price war between Nordstrom and Macy's two high-end chain stores.

And what is the truth?

It is reported that the foreign media research report to Nordstrom and Macy's department store, the former said it would reduce sales to MK, mainly due to the high price of MK and the decline in quality, resulting in poor customer response, while the same channel purchase made Nordstrom's profits under pressure. Therefore, in order to fight against Macy's department store competition, Nordstrom announced that the group would only sell the best seller and classic version of MK.

The investment bank said in the above report that MK lost its support from consumers and the interest of chain stores. Therefore, in the current financial year, the prospect of MK is worrying.

This is a fatal blow to MK, which is about to announce its earnings. Meanwhile, more research reports will focus on MK's consistently high price and low quality.