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Canada’s Lawrence Stroll and Hong Kong’s Silas Chou helped mastermind Michael Kors‘ hugely successful IPO in 2011. They were co chairman of that fashion house until the IPO and have since been steadily selling out. In a secondary offering in 2013, they sold another nearly 20 million shares.
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For those keeping score, Michael Kors reported net income of $1.00 per share, some 11 cents above the average estimate and ahead of the $0.71 earned in the year ago period. Revenue grew 42.7% to $1.1 billion from $740.3 million in the second quarter of fiscal 2014. Comp store sales were up 16.2%.
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