Michael Kors delivered a fashion smash hit with its fiscal fourth quarter earnings. Revenue increased 53% to $917 million from $597 million and earnings grew 63.5%. Kors will continue its global expansion with an additional 110 new retail stores and an e-commerce site in the works. Kors sells luxury but at reasonable prices, and the clothing styles are resonating with shoppers with accessories like watches and eyewear complementing sales of its signature handbags. However, the average transaction prices remains flat with women preferring to purchase smaller "wristlet" handbags as opposed to bigger, higher-priced handbags.
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