Michael Kors Holdings Ltd. chief executive officer John Idol said in the financial report that the 2018 fiscal year is the group’s key year, laying the foundation for the long-term goal of the luxury group, in addition to the acquisition of Jimmy Choo, and also set the 2020 strategic target for Michael Kors. For the current fiscal year, we will focus on Michael Kors retail sales growth and Jimmy Choo expansion at the same time, and seek further acquisition opportunities.
As of the end of March, the total revenue of Michael Kors Holdings Ltd. was $4 billion 718 million 600 thousand, an increase of 5% from $4 billion 493 million 700 thousand in 2017, of which $222 million 600 thousand came from the acquisition, and the fixed exchange rate increased by 3.6%.
During the reporting period, the group gross profit of the 2018 fiscal year group was $2 billion 859 million 300 thousand, with an increase of 7.4% compared with 2 billion 661 million 400 thousand US dollars in fiscal year 2017 and 60.6% gross interest rate. The adjusted 60.7% improved 150bps, mainly due to a substantial increase in the proportion of Michael Kors retail business and the effect of the group contraction department store channel.