Michael Kors Holdings Limited Announces Fourth Quarter and Annual Fiscal 2016 Results

Michael Kors (KORS): Don't Fall for the Seemingly Low Valuation - Cannacord Genuity

Cannacord Genuity analyst, Camilo Lyon, isn't dissuaded from the Hold rating and $45 PT despite Michael Kors (NYSE: KORS) posting decent Q4 results. EPS of 98c topped the 95c estimate on slightly stronger retail comps (+0.3% vs. our -2.4%) and curiously strong w/s sales (+3.5% vs. the -7% est.). Gross margin of 58.2% was in line with estimates while SG&A dollar growth of 20.9% far outpaced our 11% est.

That all said, we remain concerned that the underlying trends at KORS are deteriorating. First, NA wholesale is under pressure due to excessive promotions, weak traffic trends, and general... More

Wedbush Raises price Target on Michael Kors (KORS) Following 4Q Report

Wedbush reiterated a Neutral rating on Michael Kors (NYSE: KORS), and raised the price target to $46.00 (from $43.00), following the company's 4Q earnings report. KORS reported an EPS of $0.98, a penny above Wedbush's estimates. The results were driven by better than expected sales and gross margin. The company's 1Q non-GAAP EPS guidance of... More

Michael Kors (KORS) Raising PT to $69 - Piper Jaffray

Piper Jaffray analyst, Erinn Murphy raised her PT on Michael Kors (NYSE: KORS) to $69 (from $67) after Q4 results came in ahead of expectations. No change to Overweight rating.

The Q1 guide disappointed due to pressures in domestic mall traffic and the decision to... More

Mizuho Securities Remains Sidelined on Michael Kors (KORS) Following 4Q EPS Beat

Mizuho Securities reiterated a Neutral rating and $50.00 price target on Michael Kors (NYSE: KORS) following the company's 4Q earnings report. KORS reported an EPS of $0.98, beating the Streets $0.97 estimate. Mizuho decided to adjust its 1Q EPS estimates to $0.72 from $0.94 reflecting global comps of (5)%,... More

Michael Kors (KORS) Completes $500M Acquisition of Michael Kors (HK) Ltd.

Michael Kors (NYSE: KORS) announced that the Company has completed the acquisition of Michael Kors (HK) Limited, the exclusive licensee of the Company in China and certain other jurisdictions in Asia, on May 31, 2016, for $500 million in cash, subject to certain adjustments.

The acquisition was approved by the independent members of the Companys board of directors, upon recommendation of a Special Committee, comprised of solely independent directors, which... More

Michael Kors (KORS) Tops Q4 EPS by 1c; Completes Greater China Licensee Purchase; Approves $1B Stock Buyback

Michael Kors (NYSE: KORS) reported Q4 EPS of $0.98, $0.01 better than the analyst estimate of $0.97. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.15 billion.

The Company completed the acquisition of Michael Kors (HK) Limited, the exclusive licensee of the Company in China and certain other jurisdictions in Asia, on May 31, 2016, for $500 million in cash, subject to certain adjustments. The acquisition was approved by the independent members of the Companys board of directors, upon... More