Michael Kors profit dips in Q3; nearly doubles full-year forecast

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%.