Michael Kors profit falls 15 percent

[August 08, 2017]  (Reuters) - Michael Kors Holdings Ltd reported a 15 percent drop in quarterly profit on Tuesday, as the U.S. fashion accessories maker sold fewer items to department stores.

A Michael Kors Holdings Limited retail store is shown in La Jolla, California, U.S., May 17, 2017. REUTERS/Mike Blake

Net income attributable to the company fell to $125.5 million, or 80 cents per share in the first quarter ended July 1, from $147.1 million, or 83 cents per share, a year earlier.

Total revenue for Michael Kors, which said last month it would buy upscale shoemaker Jimmy Choo, dipped 3.6 percent to $952.4 million.

The company, however, raised its annual revenue forecast.

(Reporting by Siddharth Cavale in Bengaluru; Editing by Sai Sachin Ravikumar)

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