Michael Kors: The Same Period Increased By 13%

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Mike Michael Kors reported fourth quarter earnings, net profit rising 13% over the same period last year, mainly due to the positive impact of new shops and tax rates.

In the quarter ended March,

Revenue was $1 billion 80 million, an increase of 17.7% over the same period last year.

Net profit was $182 million 600 thousand, up from $161 million 100 thousand in the same period last year.

The same store sales fell 5.8% in the first quarter, and the number of chain stores increased by 121 year-on-year.

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Under the strong performance of its brand Calvin Klein, the US apparel group PVH Corp. exceeded its analysts' expectations in the first quarter, and announced that the annual profit forecast was raised, which led to a 3.2% rise in the group's stock price on Monday.

In the first quarter of May 3, 2015, PVH group's net profit increased three times to $114 million 100 thousand from 35 million 200 thousand US dollars in the same period in 2014, and diluted about 1.37 US dollars per share.

Excluding currency effects and other one-time items, adjusted earnings per share reached $1.50, higher than analysts had generally expected $1.38.

Total revenue decreased by 4.3% to $1 billion 880 million from $1 billion 960 million, up 3.3% from the fixed exchange rate.

Gross margin declined by 20 basis points, representing 52.6% of total revenue in the same period last year, accounting for 52.4% of total revenue this year.

According to the brand, total revenue of Calvin Klein declined 1.7% to 653 million 700 thousand US dollars from 665 million 300 thousand US dollars a year last year, but it rose 5.1% after excluding the exchange rate.

The brand's pre tax surplus grew by 21.4% to $897 million.

In contrast, the total revenue of Tommy Hilfiger decreased by 11.1% to 767 million 100 thousand US dollars from 862 million 400 thousand US dollars, and increased by only 0.7% according to the fixed exchange rate.

Tommy Hilfiger's pre tax surplus fell from $115 million 200 thousand to $92 million 100 thousand, or more than 20%.

Regionally, Calvin Klein rose 0.4% to 338 million 800 thousand dollars in North America, while Tommy Hilfiger fell 2.4% to 353 million 900 thousand dollars.

According to the data, Calvin Klein business strength has pushed PVH group's first quarter performance to exceed expectations.

Emanuel Chirico, chairman and chief executive officer of PVH group, said: "the strong fundamentals of our brand Calvin Klein and Tommy Hilfiger business offset some of the weakness of Calvin Klein and Tommy Hilfiger, and the serious negative impact of the US dollar on the consumption of international tourists."

Despite the pressure from currency exchange rate fluctuations and unstable economic conditions, the group continued to raise its full year forecast, and earnings per share rose to 6.85- 6.95 US dollars from the previous 6.75 -6.90 US dollars.

In addition, the group has set up a stock repurchase plan worth three US dollars for a period of 500 million years.

Until Monday after the deal, the US apparel group PVH Corp. had a market capitalization of $8 billion 653 million, and the group's share price rose 4.12% to 108.99 dollars.

The PVH (Philips-Van-Heusen) group is a clothing group that manages men's wear, women's wear, children's wear and footwear products. It was founded in 1881, and its original business is shirts, with annual sales of more than 8 billion dollars, and the second largest clothing group in the world.

Today, PVH is headquartered in New York with Calvin Klein, Tommy Hilfiger, Izod, Van Heusen, Arrow and other brands, and has obtained the right to sell DKNY, Michael, Arrow, hex, cable, and other private brands.