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And I'll turn the call over to Mike for more details.
Thanks, Kosta, and good morning everyone. I'll start off by highlighting our reported first quarter 2012 versus 2011 results from this morning's press release. Net sales increased 14.3% to $636.1 million compared to $556.7 million. Gross profit rose 14.2% to $356.4 million compared to $312 million and cheap Michael Kors Logo-Print Medium Coffee Totes remained constant at 56% of net sales. The income cheap Michael Kors Logo Signature Large White Multicolor Totes before income taxes increased 7.8% to $88.1 million or 13.8% of net sales compared to $81.7 million or 14.7% of net sales and diluted earnings cheap Michael Kors Jet Set Signature Large Grey Backpacks per share rose 15% to $0.92 on 62.1 million shares compared to $0.80 on 64.1 million shares.
From a sales mix perspective, our wholesale versus direct to consumer mix remained relatively unchanged from last year's Q2 le
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