New York -- Fashion presence Michael Kors Holdings Ltd. reported a first-quarter profit of $125 million, nearly double the $68.6 million profit of the year-ago period.
Revenue for the quarter ended June 29 soared 54% percent to $640.9 million, well above Wall Street’s expected $570.5 million. Same-store sales climbed 27.3%. In North America, which generates 86% of the company's business, same-store sales rose 25%.
Despite the stronger-than-expected sales, Kors' full-year sales forecast of $2.8 billion to $2.9 billion