Michael Kors (KORS) Tops Q2 EPS by 11c, Guidance Misses

Michael Kors (NYSE: KORS) reported Q2 EPS of $1.00, $0.11 better than the analyst estimate of $0.89. Revenue for the quarter came in at $1.1 million versus the consensus estimate of $977.49 million.

Michael Kors sees Q3 2015 EPS of $1.31-$1.34, versus the consensus of $1.34. This assumes a low double digit comparable store sales increase. Michael Kors sees Q3 2015 revenue of $1.27-1.30 billion, versus the consensus of $1.30 billion.

Michael Kors sees FY2015 EPS of $4.13-$4.18, versus prior guidance of $4-$4.05 and the consensus of $4.07. This assumes a comparable store sales increase in the mid teens. Michael Kors sees FY2015 revenue of $4.3-4.4 billion, versus the consensus of $4.36 billion.

Share Repurchase Program

The Company's Board of Directors has authorized a $1 billion share repurchase program. Share repurchases may be made in open market or privately negotiated transactions over a two year period, subject to market conditions, applicable legal requirements, trading restrictions under the Company's insider trading policy, and other relevant factors. The program may be suspended or discontinued at any time.

For earnings history and earnings-related data on Michael Kors (KORS) click here.

You May Also Be Interested In

• Bristol-Myers Squibb (BMY) stock slips despite earnings beat
• The Shyft Group (SHYF) Tops Q1 EPS by 10c ; Offers Guidance
• Hertz Global (HTZ) misses earnings expectations as fleet costs weigh