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Michael Kors profit more than doubles in 1Q, revenue rises 71%
New York CIty -- Michael Kors Holdings Ltd. reported Tuesday that first-quarter profit more than doubled to $68.6 million, from $24.1 million in the year-ago period.
Revenue surged 71% to $414.9 million, after the company opened 76 new stores and grew same-store sales by 37%. Wall Street forecast revenue of $368.3 million.
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Dots names former Wal-Mart exec as new CEO, unveils plans to grow to 1,000 stores
Glenwillow, Ohio -- Fashion retailer Dots announced Tuesday it has named former Wal-Mart Stores senior VP Lisa Rhodes as its new CEO.
Rhodes, who led Wal-Mart’s U.S. apparel merchandising division, has been charged with leading Dots’ march toward 1,000 stores, also announced Tuesday.
Prior to her role at Wal-Mart, Rhodes was executive VP and chief merchandising officer for Maurice’s.