Management added that slower tourist flows and currency headwinds continue to weigh on the results, though it said those trends should moderate toward the end of the year.
In the second quarter, Kors' gross margins missed expectations, as promotional activity continued to erode its profits. Still, its same-store sales decrease improved 1 percentage point from the first quarter, to a decline of 8.5 percent.
"While Michael Kors is now feeling some pressure on the bottom line, with net income falling by 6.8 percent over last year, it remains in a much better financial position than a number of its luxury rivals," said Neil Saunders, CEO of Conlumino retail research firm.
Coach last week also reported comparable-store sales results that improved sequentially, but were still down 9.5 percent in North America. Kate Spade will announce its third-quarter results on Thursday.