For Michael Kors, Scarcity Has Its BenefitsThe brand will also introduce a fine jewelry line this fall to complement its luxury lifestyle assortment.

[Collection]Runway 2020 — the Michael Kors Holdings Limited strategic plan — appears to be showing some traction, particularly in the Americas. Disclosed a year ago, Runway 2020 included a renovation of stores over time to reflect a new luxury concept. That seems to be resonating with consumers as Kors chairman and chief executive officer John D. Idol told Wall Street analysts on Wednesday that the company remains “encouraged by the performance of these stores, which are outperforming the balance of the chain.” The plan is to renovate about 200 locations in its store base over the next two years, he said. In addition to a new assortment for its core handbag and accessories business, the Michael Kors brand will offer a new fine jewelry line this fall to complement its luxury lifestyle assortment. Idol’s comments were made during a conference call to analysts after the company reported better-than-expected first-quarter results. For the quarter ended June 30, the company said adjusted earnings per share (EPS) was $1.32, compared with Wall Street’s consensus of 95 cents. Revenues rose 26.3 percent to $1.20 billion, versus consensus estimates of $1.14 billion. Results were good enough to warrant raising the company’s full-year fiscal 2019 outlook. The company now

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