John D. Idol, Chairman and Chief Executive Officer, stated: “Our second quarter revenue and earnings results were above our expectations, as we continued to deliver innovative luxury fashion product and further expand our footprint worldwide”. Despite the new lines being delivered and the expansion of the brand’s online presence, Idol underlined that: “...results continued to be impacted by the declines in mall traffic and tourism in certain major cities, as well as our strategic decision to reduce sell-in of inventory to the US wholesale channel. Despite these near term challenges, we remain confident in our ability to drive long term growth and increase shareholder value".
 
Total revenue totaled 1.09 billion US dollars, decreasing by 3.7%, from 1.13 billion US dollars in the same period last year. On a constant currency basis, total revenue decreased by 3.7%. Retail net sales increased by 12.1%, reaching 597.2 million US dollars, mainly driven by 198 net new store openings (since the end of the second quarter of fiscal 2016) and comparable sales decreased by 5.4%. On a constant currency basis, retail net sales increased by 12.1% and comparable sales decreased by 5.6%. Wholesale net sales decreased by 18.4%, reaching 452.2 million US dollars and on a constant currency basis, wholesale net sales decreased by 18.5%. Licensing revenue decreased by 10.2% totaling 38.8 million US dollars.

Total revenue in the Americas decreased by 11.1% on both a reported and constant currency basis (reaching 745.1 million US dollars). European revenue grew by 1.9% totaling 248.0 million US dollars on a reported basis, and grew 3.5% on a constant currency basis. Revenue in Asia increased by 96.5% totaling 95.1 million US dollars on a reported basis, and increased by 87.5% on a constant currency basis.

Net income attributable to Michael Kors was 160.9 million US dollars, going down from 193.1 million US dollars in the same period last year.

For the first semester the company posted total revenue decreasing by 1.9%, totaling 2.08 billion US dollars. On a constant currency basis, total revenue decreased by 2.0%.  Retail net sales increased by 9.8%, totaling 1.16 billion US dollars, and comparable store sales decreased by 6.4%. On a constant currency basis, retail net sales grew by 9.8%, and comparable sales decreased 6.6%. Wholesale net sales decreased by 13.4% totaling 846.6 million US dollars and on a constant currency basis, wholesale net sales decreased by 13.6%. Licensing revenue decreased by 15.3% to 69.4 million US dollars. Net income attributable to Michael Kors for the first six months was 308.0 million US dollars, which compares to 367.5 million US dollars in the same period in 2016.

By the end of the second semester Michael Kors operated 787 retail stores, including concessions (compares to 589 retail stores at the end of the same prior-year period). Including licensed locations, there were 905 Michael Kors stores worldwide at the end of the second quarter of fiscal 2017.