Today in luxury marketing:
Michael Kors shares climb on 76.6pc profits rise
Shares of Michael Kors jumped 20.3 percent in early morning trading Feb. 4 after the accessories and fashion firm reported a 76.6 percent leap in net income for the third quarter ended Dec. 28 to $229.6 million, or $1.11 a diluted share, from $130 million, or 64 cents, a year ago. Total revenues rose 59 percent to $1.01 billion from $636.8 million, which included a 59 percent gain in net sales to $964.8 million from $606.9 million. The balance of revenues was from licensing income, WWD reports.