Michael Kors (KORS) Tops Q1 EPS by 11c; Guides FY16 Ahead of Views

Michael Kors (NYSE: KORS) reported Q1 EPS of $0.87, $0.11 better than the analyst estimate of $0.76. Revenue for the quarter came in at $986 million versus the consensus estimate of $946.76 million.

Retail net sales increased 9.0% to $523.3 million driven by 107 net new store openings since the end of the first quarter of fiscal 2015 and e-commerce sales from our North American digital flagships, partially offset by a 9.5% decrease in comparable store sales. On a constant currency basis, retail net sales grew 16.0%, and comparable store sales decreased 5.0%. Wholesale net sales increased 4.2% to $424.0 million and on a constant currency basis, wholesale net sales grew 9.7%. Licensing revenue increased 20.5% to $38.7 million.

Michael Kors sees Q2 2016 EPS of $0.86-$0.90, versus the consensus of $0.97. Michael Kors sees Q2 2016 revenue of $1.06-1.08 billion, versus the consensus of $1.11 billion.

Michael Kors sees FY2016 EPS of $4.40-$4.50, versus the consensus of $4.25. Michael Kors sees FY2016 revenue of $4.7-4.8 billion, versus the consensus of $4.66 billion.

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Movano (MOVE) Misses Q2 EPS by 195c
• SVB & T Corporation (SVBT) Tops Q2 EPS by 275c