Michael Kors Holdings Earnings: Here’s Why Shares are Up Now
Michael Kors Holdings (NYSE:KORS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.29%.
Michael Kors Holdings Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 127.27% to $0.50 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Rose 57.16% to $597.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Michael Kors Holdings reported adjusted EPS income of $0.50 per share. By that measure, the company beat the mean analyst estimate of $0.39. It beat the average revenue estimate of $546.07 million.
Quoting Management: John D. Idol, the Company’s Chairman and Chief Executive Officer, said, “Fiscal 2013 was another outstanding year for Michael Kors with continued momentum into the fourth quarter reflecting advances on our key growth strategies. Our jet-set luxury accessories and ready to wear are resonating with consumers worldwide and we are excited by our prospects for future growth.”
Key Stats (on next page)…