Representatives of Las Vegas Valley shopping centers don’t expect their Michael Kors stores to close as part of the fashion company’s announced downsizing.
Michael Kors has eight locations in the valley. Representatives with Fashion Show, owned by GGP, and Simon-owned Forum Shops at Caesars and North and South premium outlets said their stores perform well enough to avoid downsizing.
“It will be stores in smaller markets,” said Maureen Crampton, marketing and business development director for Forum Shops.
On Wednesday, Michael Kors announced it will close at least 100 retail stores over the next two years to improve profits.
Contact Wade Tyler Millward at firstname.lastname@example.org or 702-383-4602. Follow @wademillward on Twitter.
Michael Kors income per operation for the fiscal year ended April 1
Retail $159.8 million (68 percent decrease year over year)
Wholesale $468.1 million (20 percent decrease year over year)
Licensing $62 million (31 percent decrease year over year)