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New York -- Michael Kors Holdings Ltd. reported Tuesday that profit for the quarter ended Dec. 29 decreased to $636.8 million, compared with $373.6 million in the year-ago period.
However, the designer and retailer forecasted fiscal 2013 profit at more than double its year-earlier performance.
Revenue surged 70% in the third quarter, fueled by strength in the accessories category, and the company predicts that fiscal 2013 sales will leap 62%.