Michael Kors (KORS) Tops Q4 EPS by 3c, Offers Q1 and FY Guidance

Michael Kors (NYSE: KORS) reported Q4 EPS of $0.63, $0.03 better than the analyst estimate of $0.60. Revenue for the quarter came in at $1.18 billion versus the consensus estimate of $1.15 billion.

GUIDANCE:

Michael Kors sees Q1 2019 EPS of $0.90-$0.95, versus the consensus of $0.88. Michael Kors sees Q1 2019 revenue of $1.135 billion, versus the consensus of $1.09 billion.

Michael Kors sees FY2019 EPS of $4.65-$4.75, versus the consensus of $4.74. Michael Kors sees FY2019 revenue of $5.1 billion, versus the consensus of $5.01 billion.

• For the first quarter of fiscal 2019, the Company expects total revenue to be approximately $1.135 billion, including between $140 million and $145 million of incremental Jimmy Choo revenue. Comparable sales for Michael Kors are expected to be approximately flat. The Company expects operating margin to be approximately 15.2%. Diluted earnings per share are expected to be in the range of $0.90 to $0.95, including anticipated benefit from Jimmy Choo of approximately $0.01 to $0.03. This assumes approximately 153 million weighted average diluted shares outstanding and a tax rate of approximately 14.0%.
• For fiscal 2019, the Company expects total revenue to be approximately $5.10 billion, including between $570 million and $580 million of incremental Jimmy Choo revenue. Comparable sales for Michael Kors are expected to be approximately flat. The Company expects operating margin to be approximately 17.7%. Diluted earnings per share are expected to be in the range of $4.65 to $4.75, including dilution from Jimmy Choo of approximately $0.05 to $0.10. This assumes approximately 154 million weighted average diluted shares outstanding and a tax rate of approximately 16.5%

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

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