Michael Kors Started the Fiscal Year on an Optimistic Note

Shoes and accessories helped the company along in the first quarter.
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Eliza Brooke
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Shoes and accessories helped the company along in the first quarter.
Michael Kors presents at New York Fashion Week: Men's. Photo: Michael Kors/Getty Images

Michael Kors presents at New York Fashion Week: Men's. Photo: Michael Kors/Getty Images

Though Michael Kors's stock price has been on a steady decline over the last year, shares popped up a little over 8 percent on Thursday morning after the brand reported better-than-expected sales for the first quarter of fiscal 2016, which ended June 27. Here's the reader's digest version of things:

$986 million: Total revenue Michael Kors raked in during the first quarter. Compare that to $919.2 million in sales during the same period a year ago.
$174.4 million: The income the company actually took home.
Shoes and accessories: The biggest growth driver for Kors's sales.
Fragrance and eyewear: The area in which execs see the biggest opportunity right now.
Japan: Region that saw the highest growth during the quarter.
550: The number of stores and concessions the brand currently operates around the world.
107: The number of stores Michael Kors has opened in the last year.
+16: The percentage by which retail sales grew in the last year, including new locations.
-5: The percentage by which sales dropped, excluding store openings (a.k.a. comparable sales).

The lowdown: While overall sales grew, it's never good to see comparable sales drop, since that's the truer indicator of how things are going relative to last year. And speaking of, revenue was up 43.4 percent during the same period in fiscal 2015 — a significantly faster rate of growth than the 13.4 percent Kors reported Thursday.