Michael Kors revenue soars 43 percent

Designer <a href=Michael Kors Outlet acknowledges the crowd after revealing his Spring/Summer 2014 collection during New York Fashion Week, September 11, 2013. REUTERS/Joshua Lott “>Thomson ReutersMichael Kors acknowledge the crowd after Spring/Summer 2014 collection during New York Fashion Week

(Reuters) – Michael Kors Outlet Holdings Ltd reported a 43 percent rise in quarterly revenue, helped by higher sales of handbags and watches in North America, sending its shares up 12 percent in premarket trading.

The company”s net income rose to $187.7 million, or 91 cents per share, in the first quarter ended June 28, from $124.9 million, or 61 cents per share, a year earlier.

Revenue rose to $919.2 million.

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Saumyadeb Chakrabarty)

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