Michael Kors Holdings Ltd. Drags Down Luxury Retailers

Michael Kors Holdings Ltd.

fiscal second-quarter results dragged down a slate of competing luxury retailers Tuesday on fears centered around growth. Kors, Hong Kong, offered a third-quarter outlook slightly below expectations and said its revenue growth in Europe slowed to 108 percent in the recent period, from 128 percent in the second quarter. In North America, which accounts for 80 percent of Kors' revenue, growth slowed slightly to 29.8 percent, from 30 percent in the previous period. Despite beating second-quarter views, Kors slid more than 7 percent Tuesday to $79.91 a share. Fossil Group Inc.

fell nearly 4 percent to $98.94 a share, while Kate Spade & Co.,

set to post results Thursday, shed 4.5 percent to $26.32 a share. Long-suffering Coach Inc,

was off more than 2 percent to $33.25 a share.