Brick-and-Mortar Retail Meltdown Has a Busy Month
After years of asset stripping by private equity firms and hedge funds.
By News on the Net -- Wolf Street—— Bio and Archives--June 1, 2017
| Comments | Back To Full Article
This morning, luxury handbag retailer Michael Kors Holdings, which had had stellar sales through 2014, revealed in its Q4 earnings report that it would close up to 125 retail stores and take a $125 million charge, to save $60 million this fiscal year.
Sales plunged 11.3% year-over-year in Q4, and the company lost $27 million, or 17 cents a share. It doused investors with a gloomy outlook for its fiscal year 2018, with revenues expected to drop over 5% to $4.25 billion, and with same-store sales plunging “in the high-single digit range.” -- More....
Read Full Article...
Welcome to CFP’s Comment Section!
The Comment section of online publications is the new front in the ongoing Cancel Culture Battle.
Big Tech and Big Media are gunning for the Conservative Voice—through their Comment Sections.
Canada Free Press wishes to stay in the fight, and we want our fans, followers, commenters there with us.
We ask only that commenters keep it civil, keep it clean.
Thank You for your patience and for staying aboard the CFP ‘Mother Ship’.
READ OUR Commenting Policy