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Michael Kors Profit Tops Estimates as New Stores Boost Sales

Kors has been opening new international locations more quickly than it has been adding them in its core North American market, helping its revenue climb.

Michael Kors Holdings Ltd., the seller of luxury handbags and clothing, posted second-quarter profit that topped analysts’ estimates as new retail locations boosted sales.

Earnings in the quarter through Sept. 26 were $1.01 a share, the company said in a statement on Wednesday. Analysts estimated 89 cents, on average.

Michael Kors, founded by the American designer of the same name, has been opening new international locations more quickly than it has been adding them in its core North American market. That’s helped revenue climb even as the strong U.S. dollar weighs on sales. Revenue in the quarter rose 6.9 percent to $1.13 billion, topping analysts’ $1.08 billion average projection. Excluding currency effects, sales would...


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