Michael Kors Q1 profit leaps 82%; plans new stores in India and Brazil
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 was in line with Wall Street’s projections for $2.84 billion.
Helping its overall results were the roll-out of shops within department stores and substantial gains in Europe. The company said it plans new stores in India and Brazil, as well as a bigger push for its watch and jewelry business worldwide. The company operates 249 of its own stores in North America and CEO John Idol said that could grow to 400. In Europe, Kors has 49 stores and thinks it can eventually have 200 locations. It also said it opened its first stores in Brazil and, with a partner, in India.
Sears Holdings to improve omni-channel distribution operations
Hoffman Estates, Ill. — Sears Holdings has selected HighJump Software, a global provider of supply chain management software, to help the company manage its distribution network.
The retailer will implement the HighJump Supply Chain Advantage warehouse management system as well as HighJump solutions for yard and labor management across its North American distribution network, which includes 41 distribution centers that cover more than 40 million sq. ft., 106 market delivery operation sites for cross docking appliances and integrated retail fulfillment from select stores for online purchases.
HighJump Software offers a market-leading adaptable, scalable technology platform. The HighJump adaptability tools enable customers to configure work flows in warehouse management systems with internal resources to meet rapidly changing marketplace demands, while maintaining the ability to perform fast, seamless upgrades.
“Our company is committed to building an agile, leading-edge supply chain,” said Jeff Starecheski, VP logistics services, Sears Holdings. “The HighJump solutions will allow us to expand our fulfillment capabilities while improving service to our customers and members.”
Goodwill teams with AT&T on locator app
Rockville, Md. — Goodwill Industries International teamed with AT&T to launch a free “Goodwill Locations/Locator” mobile app, currently available on iOS and Android mobile operating systems.
The mobile application provides users with a tool that currently has information about more than 4,800 Goodwill donation centers and stores across the United States and Canada.
The custom app was built by AT&T’s Mobility Solutions Services, using the AT&T Mobile Application Development platform.
“Working with AT&T, we were able to design a mobile app to provide Goodwill supporters with a convenient way to support our mission of job training,” said Jim Gibbons, president and CEO of Goodwill Industries International. “Rather than having to type a zip code into a website, they are able to instantly locate their nearest Goodwill locations based on their geographic whereabouts.”