Michael Kors Holdings (KORS) Tops Q4 EPS by 11c as Sales Rise 57%
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Michael Kors Holdings (NYSE: KORS) reported Q4 EPS of $0.50, $0.11 better than the analyst estimate of $0.39 and up 123.9% from last year. Revenue for the quarter came in at $597.2 million, up 57.1%, versus the consensus estimate of $546.07 million. Comparable store sales rose 36.7%.
Michael Kors Holdings sees Q1 2014 EPS of $0.46-0.48, versus the consensus of $0.47. Michael Kors Holdings sees Q1 2014 revenue of $555-565 million, versus the consensus of $570.31 million.
Michael Kors Holdings sees FY2014 EPS of $2.43-2.47, versus the consensus of $2.44. Michael Kors Holdings sees FY2014 revenue of $2.65-2.75 billion, versus the consensus of $2.83 billion.
John D. Idol, the Company’s Chairman and Chief Executive Officer, said, “Fiscal 2013 was another outstanding year for Michael Kors with continued momentum into the fourth quarter reflecting advances on our key growth strategies. Our jet-set luxury accessories and ready to wear are resonating with consumers worldwide and we are excited by our prospects for future growth.”
Idol continued, “Our robust fourth quarter results were driven by continued strength across all of our business segments and geographies. North American comparable store sales increased 35%, reflecting the increasing demand for our luxury brand, our exciting product assortment and our exceptional jet-set in-store experience. Sales in our North America wholesale segment increased 57%, reflecting comparable store sales growth as well as the continued conversion to shop-in-shops in department stores. In Europe, sales nearly doubled during the quarter, with continued expansion of brand awareness leading to 63% comparable store sales growth. Finally, in our licensing segment, revenue increased 16%, driven primarily by the ongoing strength in watches and eyewear. Overall, we believe that the Michael Kors luxury brand is ideally positioned within the global luxury lifestyle market and we look forward to continuing to advance on our long-term objectives in fiscal 2014 and beyond."
For earnings history and earnings-related data on Michael Kors Holdings (KORS) click here.
Michael Kors Holdings sees Q1 2014 EPS of $0.46-0.48, versus the consensus of $0.47. Michael Kors Holdings sees Q1 2014 revenue of $555-565 million, versus the consensus of $570.31 million.
Michael Kors Holdings sees FY2014 EPS of $2.43-2.47, versus the consensus of $2.44. Michael Kors Holdings sees FY2014 revenue of $2.65-2.75 billion, versus the consensus of $2.83 billion.
John D. Idol, the Company’s Chairman and Chief Executive Officer, said, “Fiscal 2013 was another outstanding year for Michael Kors with continued momentum into the fourth quarter reflecting advances on our key growth strategies. Our jet-set luxury accessories and ready to wear are resonating with consumers worldwide and we are excited by our prospects for future growth.”
Idol continued, “Our robust fourth quarter results were driven by continued strength across all of our business segments and geographies. North American comparable store sales increased 35%, reflecting the increasing demand for our luxury brand, our exciting product assortment and our exceptional jet-set in-store experience. Sales in our North America wholesale segment increased 57%, reflecting comparable store sales growth as well as the continued conversion to shop-in-shops in department stores. In Europe, sales nearly doubled during the quarter, with continued expansion of brand awareness leading to 63% comparable store sales growth. Finally, in our licensing segment, revenue increased 16%, driven primarily by the ongoing strength in watches and eyewear. Overall, we believe that the Michael Kors luxury brand is ideally positioned within the global luxury lifestyle market and we look forward to continuing to advance on our long-term objectives in fiscal 2014 and beyond."
For earnings history and earnings-related data on Michael Kors Holdings (KORS) click here.
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