Michael Kors Holdings (KORS) Tops Q1 EPS by 10c; Issues Mixed Q2, FY15 Outlook

Michael Kors Holdings (NYSE: KORS) reported Q1 EPS of $0.91, $0.10 better than the analyst estimate of $0.81. Revenue for the quarter came in at $919.2 billion versus the consensus estimate of $852.45 million.

Comps rose 24.2 percent.

Michael Kors sees Q2 2015 EPS of $0.85 - $0.87, versus the consensus of $0.89. The company expects Q2 2015 revenue of $950 - $960 million, versus the consensus of $959.5 million.

Michael Kors also sees FY2015 EPS of $4.00 - $4.05, versus the consensus of $3.96. The company expects FY2015 revenue of $4.25 - $4.35 billion, versus the consensus of $4.20 billion.

John D. Idol, the Company’s Chairman and Chief Executive Officer, said, “Our Fiscal 2015 first quarter earnings results demonstrate the strong momentum in our brand across North America, Europe and Asia. Our success in establishing Michael Kors as a global luxury lifestyle brand is grounded in Michael’s vision for design and the aspirational jet-set luxury experience we offer our customers. Our unique position within the global luxury market combined with our compelling diversified product assortment provides tremendous growth opportunity across the North American and International markets. As we look ahead, we will continue to make strategic investments in our business that will support our long term growth objectives and drive value for our shareholders.”

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

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