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Abercrombie settles overtime suit with more assistant managers
New Albany, Ohio – Abercrombie & Fitch Co. and Abercrombie & Fitch Stores Inc. have offered to pay $96,000 to 13 assistant managers for failing to pay proper overtime wages, in connection with a lawsuit filed in the Eastern District of New York. This is in addition to prior offers from Abercrombie & Fitch to pay other assistant managers who had joined the lawsuit.
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Demand for luxury, new stores drive strong Q4 for Michael Kors
Hong Kong - Michael Kors Holdings attributed impressive growth in net income, total revenues and same-store sales during fourth quarter 2014 to strong global demand for luxury items. Net income for the three months ended March 29 rose 59% to $161 million, from $101.1 million last year.
Total revenue increased 53.6% to $917.5 million. from $597.2 million. Same-store sales grew 26%. The addition of 101 corporate stores and 150 licensed stores, including concessions, also helped fuel results.