Heard during Michael Kors' earnings call

Execs with Michael Kors (KORS +19.2%) had a fairly easy time with the Q&A during the firm's earnings call after the firm blasted past analyst estimates with its quarterly report.

The game plan for the rest of the year remains the same: Grow comparable-store sales, expand the store base, and capitalize on e-commerce opportunities.

Despite lower traffic in malls, conversion rates at Michael Kors stores were very high.

Markdowns during the period were tied to late deliveries more than pressure from the overall retail sector. The company didn't see the need to go promotional which kept margins intact.

Watch the footwear category, says management. Momentum is very strong and the upside potential enormous.

Earnings call transcript

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