Wednesday, May 31, 2017

Michael Kors slumps on weak forecast; to shut over 100 stores

A Michael Kors Holdings Limited retail store is shown in La Jolla, California, U.S., May 17, 2017. REUTERS/Mike BlakeMichael Kors Holdings Ltd gave a bleak full-year forecast and said it would shut more than 100 full-price retail stores in the next two years as the upmarket fashion retailer struggles to turn around its brand.

Michael Kors, like other brick-and-mortar retailers, has been facing slowing sales as more customers shop online and spend less on apparel.. . . more

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