Michael Kors is falling out of fashion on Wall Street this Tuesday after the luxury retailer reported disappointing same store sales. Sales at stores open for at least a year grew 16%. While that sounds like an impressive number, it fell short of expectations. Stores in North America grew only about 10%, which is a lot worse than before. That's being said, overall sales weren't compromised and grew to $1.1 billion, which easily topped forecasts. Profit came in at a dollar a share, more than a dime better than expected. Japan and Europe did exceptionally well compared to a year ago. Michael Kors, who founded the company, became a billionaire this year after his handbags have become popular all over the world.