Check back later for our full write up on Michael Kors’ earnings report!
Advertisement
Kors forecast revenue of $1.33 billion-$1.35 billion and earnings of $1.44-$1.48 per share for the current quarter ending December, both of which were below analysts’ expectations. The company had $1.01 in earnings per share (EPS) on $1.13 billion in revenue, which compares to consensus estimates from Thomson Reuters for $0.89 in EPS on revenue of $1.08 billion. The rating is an average of the various different ratings given by analysts and brokers to Michael Kors Holdings Limited, and then averaged into one rating by a team of analysts at Zacks in Chicago, Illinois.
Michael Kors Holdings (NASDAQ:KORS) last announced its quarterly earnings results on Wednesday, November 4th.
Among the analysts, the highest EPS was $0.96 and the lowest was $0.8. Michael Kors Holdings’s revenue for the quarter was up 6.6% on a year-over-year basis. Technical indicators show a 50 day moving average of 41.53.
Total revenue in the Americas climbed 4.5 percent to $838.2 million for the quarter, while European revenue rose 2.3 percent to $243.4 million.
Michael Kors Holdings Limited (NYSE:KORS): According to 17 Analysts, The short term target price has been estimated at $ 49.65.
Michael Kors Holdings Limited (NYSE:KORS): On Tuesday heightened volatility was witnessed in Michael Kors Holdings Limited (NYSE:KORS) which led to swings in the share price. A total of 2.75 million shares of the company’s stock traded hands.
Michael Kors, famed for herlading a jet-set lifestyle, has been slashing prices to clear out backlogged inventory amid slow mall traffic and weak spending by tourists. Michael Kors Holdings has a 52 week low of $36.63 and a 52 week high of $78.55. It’s global supply network of company-operated retail stores, department stores, specialty stores and select licensing partners.
Advertisement
Kors, once a hot name in affordable luxury, has been offering deep discounts to entice shoppers in North America. It offers two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. Its licensing segment is engaged in providing permits to third parties, such as certain generation, sales or distribution rights.
