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we maintain our view that it has much more work to do in reconnecting with customers who have been alienated by the overexpansion กระเป๋า MANGO of the brand," said Neil Saunders, managing director of research firm GlobalData Retail. The company said on Tuesday it would cut back promotions in North America, starting this month, to boost average retail prices. Michael Kors, however, said it expected weakness in North America and Europe to continue, partly due to fewer shoppers visiting malls. The company forecast fourth-quarter profit of 68 cents-72 cents per share on revenue of $1.04 billion-$1.06 billion. Analysts were expecting earnings of 93 cents per share and revenue of กระเป๋า MANGO $1.11 billion, according to Thomson Reuters I/B/E/S. The company's shares fell to $34.92 on Tuesday, making the stock the biggest percentage loser on the New York Stock Exchange. Michael Kors said average selling prices in the third quarter were hurt by a highly promotional environment as well as the continued popularity of cheaper cross-body bags and small leather goods in the third quarter. Michael Kors' third-quarter profit of $1.64 per share beat the average analyst estimate by 1 cent, according to Thomson Reuters I/B/E/S. Quarterly revenue in the Americas region fell 7.4 percent, while Europe sales were down 7 percent. Sales at stores open for more than a year fell 6.9 percent in the third quarter ended Dec. 31, reflecting a mid single-digit decrease in North America and a midteens decline in Europe.
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