Michael Kors Handbag Sales Decline

With its modern clutches, pretty purses and workwear essential tote bags, Michael Kors is one of the world’s most popular handbag brands. But the designer’s once booming success has been thrown into disarray after years of over-expansion and heavy promotion at department stores like Macy’s (M). Last week, Kors reported one of the worst quarterly sales slumps in its history, sending its shares tumbling nearly 11% to a new 52-week low.

The company slashed its profit forecast and blamed China’s decision to scrap a zero-COVID-19 infection policy for the drop, but investors were still unnerved by the steep decline in comparable-store sales. Kors’ owner, Capri Holdings Ltd (CPRI.O), also owns the Jimmy Choo and Versace brands and recently announced a plan to cut back on promotions at department stores.

According to a recent Piper Jaffray report, American-based brands are losing market share in the women’s luxury handbag category to European competitors like Louis Vuitton and Kate Spade. It’s a trend that the firm says has been caused by a “difficult retail environment” and promotional pricing that has devalued brand cache.

To combat the fallout, Michael Kors is ramping up its craftsmanship and offering bags made from higher-quality leather in an effort to persuade shoppers to pay premium prices. The strategy echoes that of rival Coach (COH), which saw its sales fall sharply two years ago but has been making headway in recovering the market with bags that cost $400 and up.

The latest Michael Kors summer sale is packed with gorgeous bags, shoes and sunglasses that’ll have you stepping into the sunshine in style. And there’s no discount code needed to take advantage of these amazing offers.

But the sale doesn’t stop there. The retailer is also offering a 40% off sale styles through Tuesday, June 27. That means you can double up on discounts and get even more bang for your buck on a new bag or pair of sandals for the season ahead.

The offer includes the chain’s classic silhouettes in leather, suede and nylon — but also some of its more fun designs. You can pick up a Michael Kors crossbody for $89, a shoulder bag for $469 or a backpack for just $249. And the best part is that you can choose from a range of colors and finishes. If you’re looking to treat mom this Mother’s Day, the collection also includes a coordinating wallet and cardholder set for just $59. You can shop the Michael Kors sale here and get a jump on your summer wardrobe by grabbing a few key pieces while the deals are hot. michael kors handbag sales

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