Michael Kors Q4 profit doubles; sales jump 57%
New York — Michael Kors Holdings Ltd. reported better-than-expected net income of $101.1 million, compared with a year-earlier profit of $43.6 million, on strong demand for its products around the globe.
Retail net sales increased 58.8% to $272.7 million driven by a 36.7% increase in comparable store sales and 67 net new store openings since the end of the fourth quarter of fiscal 2012.
Wholesale net sales increased 59.4% to $304.7 million and licensing revenue increased 15.7% to $19.8 million.
There were 400 Michael Kors stores worldwide at the end of the fourth quarter of fiscal 2013.
Loft to open four stores in Canada
Toronto — Loft, a division of Ann Inc., is expanding in Canada, with four new stores by the end of fall 2013.
Loft entered Canada last November, at Yorkdale Shopping Centre in Toronto. The chain will open a store in Toronto Eaton Centrer, Toronto, in late May, followed by additional units at Lime Ridge Mall in Hamilton in July, Markville Shopping Centre in Markham in August and Square One Shopping Centre in Mississauga in October.
"Since the opening of our first international Loft store in Toronto last year, we’ve had the opportunity to build relationships with our Canadian customers, and we’re thrilled to collaborate even more with women across Ontario through these new locations," said Alia Ahmed-Yahia, chief style director.
Fleur de Mal personalizes mobile web shopping
New York — Fleur du Mal, a recently launched online retailer of women’s specialty apparel, is deploying the Usablenet U-Experience platform and Acadaca e-commerce platform to support a new personalized mobile web shopping experience for its customers. The site is optimized for fast mobile navigation and has dynamic feeds to and direct integration with Instagram and Twitter. In addition, customers can shop via a “mobile pop-up store” that delivers individually targeted content and promotions which can be provided based onfactors such as a consumer’s location.
“Our brand is all about inspiring a very intimate experience, and we sought to create a mobile identity that enables our customer to have a great relationship with the brand,” said Jennifer Zuccarini, founder of Fleur du Mal. “Usablenet enabled us to create a mobile experience we can strategically use to drive engagement on our customers’ most personal device: their mobile phones.”