Michael Kors Q4 Earnings Soar After Surge In Sales Growth In Europe
  • 11 years ago
Michael Kors Holdings Ltd (NYSE: KORS) fiscal fourth-quarter earnings jumped after the retailer reported continued sales growth in North America and Europe.For the quarter, the luxury retailer reported a profit of $101.1 million, or 50 cents a share, compared with $43.6 million, or 22 cents a share, a year earlier.The company had previously predicted earnings of 32 cents to 34 cents a share on revenue of $515 million to $525 million. the Fashion house's revenue jumped 57 percent to $597.2 million.The handbag maker saw a surge in sales growth as same-store sales in Europe jumped 63 percent and North America same-store sales grew 35 percent.In addition, the retailer updated its earnings guidance for the current quarter, and is expecting per-share earnings of 46 cents to 48 cents on revenue of $555 million to $565 million.Competitor Coach Inc. (COH), luxury handbag and accessories maker, last month reported that its fiscal third-quarter earnings rose 6.2 percent.Krispy Kreme Doughnuts (NYSE: KKD) reports earnings after the market closes Thursday with analysts polled by Thompson Reuters expecting earnings of $0.17 per share. Also on Thursday, Express, Inc. (NYSE: EXPR) and Guess?, Inc. (NYSE: GES) report quarterly earnings results. 
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