Michael Kors, popular chain stores retail sale of designer clothing, announced the closure of 100 stores in the next 2 years, as analysts predict the company’s sales will continue to fall 2018.
The company’s shares fell nearly 11% to 32.38 dollar USA, which is the lowest figure for the last five years.
Michael Kors Holdings Ltd, once a popular name in the «affordable luxury», fought with the decrease in the sales of the last 7 consecutive quarters. However, the outflow of customers to competitors and online shopping, to stop and could not. In stores operating the entire year, sales decreased by 14.1% in the fourth quarter of 2016 and the situation continues to worsen.
Consumers also interpret the decline in sales otherwise, stating that the stores Michael Kors nothing changes from year to year: the same design, the same model.
The company decided to invest more in my online store.
