Michael Kors Holdings (KORS) Tops Q1 EPS by 12c; Guides Q2, FY14
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Michael Kors Holdings (NYSE: KORS) reported Q1 EPS of $0.61, $0.12 better than the analyst estimate of $0.49. Revenue for the quarter came in at $640.9 million versus the consensus estimate of $570.52 million.
Retail net sales increased 51.5% to $325.7 million driven by a 27.3% increase in comparable store sales and 75 net new store openings since the end of the first quarter of fiscal 2013. Wholesale net sales increased 59.3% to $290.6 million and licensing revenue increased 40.7% to $24.6 million.
Sees Q2 2014 EPS of $0.62-$0.64, versus the consensus of $0.64. Sees Q2 2014 revenue of $695-$705 million, versus the consensus of $696.80 million.
Sees FY2014 EPS of $2.67-$2.69, versus the consensus of $2.57. Sees FY2014 revenue of $2.8-$2.9 billion, versus the consensus of $2.84 billion.
John D. Idol, the Company’s Chairman and Chief Executive Officer, said, "Our exceptional first quarter financial results demonstrate the sustained strong demand for the Michael Kors luxury brand. We attribute the ongoing momentum to our fashion design leadership combined with an aspirational jet-set luxury in-store experience. As we continue to successfully execute on our strategic initiatives, we remain excited about our future growth potential."
For earnings history and earnings-related data on Michael Kors Holdings (KORS) click here.
Retail net sales increased 51.5% to $325.7 million driven by a 27.3% increase in comparable store sales and 75 net new store openings since the end of the first quarter of fiscal 2013. Wholesale net sales increased 59.3% to $290.6 million and licensing revenue increased 40.7% to $24.6 million.
Sees Q2 2014 EPS of $0.62-$0.64, versus the consensus of $0.64. Sees Q2 2014 revenue of $695-$705 million, versus the consensus of $696.80 million.
Sees FY2014 EPS of $2.67-$2.69, versus the consensus of $2.57. Sees FY2014 revenue of $2.8-$2.9 billion, versus the consensus of $2.84 billion.
John D. Idol, the Company’s Chairman and Chief Executive Officer, said, "Our exceptional first quarter financial results demonstrate the sustained strong demand for the Michael Kors luxury brand. We attribute the ongoing momentum to our fashion design leadership combined with an aspirational jet-set luxury in-store experience. As we continue to successfully execute on our strategic initiatives, we remain excited about our future growth potential."
For earnings history and earnings-related data on Michael Kors Holdings (KORS) click here.
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