Michael Kors Holdings (KORS) Tops Q2 EPS by 4c; Boosts FY14 Outlook

Michael Kors Holdings (NYSE: KORS) reported Q2 EPS of $0.71, $0.04 better than the analyst estimate of $0.67. Revenue for the quarter came in at $740.3 million versus the consensus estimate of $722.2 million.

Comps up 22.9 percent.

Retail net sales increased 46.8% to $355.6 million driven by a 22.9% increase in comparable store sales and 83 net new store openings since the end of the second quarter of fiscal 2013. Wholesale net sales increased 29.9% to $351.9 million and licensing revenue increased 65.4% to $32.9 million.

Sees Q3 2014 EPS of $0.83-$0.85, versus the consensus of $0.85. Sees Q3 2014 revenue of $845-$855 million, versus the consensus of $841.2 million.

Sees FY2014 EPS of $2.77-$2.81, versus prior guidance of $2.67-$2.69 and the consensus of $2.78. Sees FY2014 revenue of $2.9-$3.0 billion, versus prior guidance of $2.8-$2.9 billion and the consensus of $2.99 billion.

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

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