Michael Kors 15% Sales

Revenue was boosted by the opening of 67 new stores worldwide as well as a 60 per cent surge in sales in Asia helped largely by the acquisition of a Greater China licensee.

Net income attributable to fell 15 per cent to US$125.5 million, or 80 cents per share. Analysts had expected 62 cents.

Which agreed to buy Jimmy last month, said it expects the deal to add about US$275 million to revenue in the second half of the year ending March 2018. The estimate assumes that the deal will close by the third fiscal quarter.

Said it now expects fiscal 2018 revenue of about US$4.28 billion, slightly higher than the US$4.25 billion it had expected earlier. The forecast does not include results from Jimmy.

Shares down about 13 per cent this year, were up 17.6 per cent at $43.80 in trading. The stock was on track to hit its highest level since January.