Michael Kors Closing Stores

Michael Kors is closing stores as sales slump.

Michael Kors is closing stores as sales slump.

The luxury retailer will shut up to 125 of its locations over the next two years.

A spokesperson for the company says it acknowledges it needs to take further steps to elevate the level of fashion innovation.

Michael Kors says the store closures would help save $60 million in annual costs.

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