Mizuho Securities Remains Sidelined on Michael Kors (KORS) Following 4Q EPS Beat
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Michael Kors Acquires Greater China Licensee
June 1, 2016 6:55 AM EDTNEW YORK--(BUSINESS WIRE)-- Michael Kors is pleased to announce 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 was responsible for evaluating the terms of the acquisition. The Special Committee retained independent legal and financial advisors to assist in evaluating and negotiating... More
Michael Kors Holdings Limited Announces Fourth Quarter and Annual Fiscal 2016 Results
June 1, 2016 6:55 AM EDT
Fourth Quarter Total Revenue Increased 10.9% (Increased 11.7%
on a Constant Currency Basis)
Fourth Quarter Reported
Diluted EPS was $0.98 ($1.00 on a Constant Currency Basis)
Completes the Acquisition of its Greater China Licensee
Announces New $1 Billion Stock Repurchase Program
LONDON--(BUSINESS WIRE)-- Michael Kors Holdings Limited (NYSE: KORS) (the Company), a global luxury lifestyle brand, today announced its financial results for the fiscal 2016 fourth quarter and fiscal year ended April 2, 2016.
The Company noted that fiscal year 2016 had 53 weeks versus 52 weeks in fiscal... More
