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Michael Kors to Shut Down at Least 100 Stores After Dismal Sales

dtran5 profile picture
June 01, 2017 · 4.4k Views

michael kors store

Michael Kors Store Canada by bargainmoose / Flickr

After experiencing a 14.1% drop in same-store sales at the end of the most recent quarter, Michael Kors has announced that it will shut down between 100 to 125 full-priced stores nationwide. This will be done in an effort to improve profitability and brand loyalty, as Neil Saunders, CEO, has claimed that many shoppers have abandoned the brand completely despite numerous efforts to re-establish their luxury brand name by decreasing promotional offers. 

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Since last year, many large retailers have announced store closures nationwide for innumerable reasons - to focus on online sales, dropping numbers, and more. Just recently, we shared information on Sears and its additional store closures, as well as Macy's and its growing list of closing stores. The retail industry seems to be experiencing a great change in the way consumers shop, and we want to hear from you about your preferences - in-store or online?

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dtran5 profile picture
Daisy loves to write with humor and can be quite the sarcastic commentator when it is appropriate. Loves carbs, fashion, staying active, and pinning the latest DIY projects for her room (which she will actually never do).

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