Michael Kors Holdings Limited Announces Third Quarter Fiscal 2017 Results

Michael Kors (KORS) PT Lowered to $36 at Oppenheimer; Reiterates Outperform

February 8, 2017 9:39 AM EST

Oppenheimer lowered its price target on Michael Kors (NYSE: KORS) to $36.00 (from $42.00) while maintaining a Outperform rating.

Analyst Anna Andreeva commented, "After flattish earnings this entire year, even with brand/category headwinds, KORS' F4Q17 guidance calls for EPS down ~25%, with comps... More

Michael Kors (KORS) PT Lowered to $36 at Wedbush Amid Weak Outlook

February 8, 2017 7:51 AM EST

Wedbush Securities analyst Morry Brown reiterates Neutral rating, but lowers price target on Michael Kors Holdings (NYSE: KORS) to $36 (from $45), as the company provided guidance below expectations.

Brown notes, "Our big picture view remains unchanged, as KORS operating results continue to demonstrate... More

Michael Kors (KORS) PT Lowered to $38 at Mizuho Securities; Reiterates Neutral

February 7, 2017 2:00 PM EST

Mizuho Securities lowered its price target on Michael Kors (NYSE: KORS) to $38.00 (from $50.00) while maintaining a Neutral rating.

Analyst Betty Chen commented, "We are lowering our estimates and PT to $38 from $50 to reflect the dramatic guide cut and a corresponding... More

Michael Kors (KORS) Tops Q3 EPS by 1c, Guidance Comes in Light

February 7, 2017 6:59 AM EST

Michael Kors (NYSE: KORS) reported Q3 EPS of $1.64, $0.01 better than the analyst estimate of $1.63. Revenue for the quarter came in at $1.35 billion versus the consensus estimate of $1.36 billion.

On a constant currency basis, retail net sales increased 10.0%, and comparable sales decreased 6.4%..

GUIDANCE:

Michael Kors sees FY2017 EPS of $4.15-$4.19, versus the consensus of $4.38. Michael Kors sees FY2017 revenue of $4.48 billion, versus the consensus of $4.55 billion.

Comparable sales to decrease in the high-single digit range.

For the fourth quarter of fiscal 2017, the Company expects total revenue to be... More