Michael Kors Q4 profit soars, sees higher full-year profit

June 12 Tue Jun 12, 2012 7:12am EDT

June 12 (Reuters) - Michael Kors Holdings Ltd reported on Tuesday that fourth-quarter profit more than doubled to $43.6 million and forecast higher sales and net income in the current fiscal year, citing growing demand of its luxury goods.

Michael Kors expects full-year sales of $1.7 billion to $1.8 billion, with a profit of $1.08 to $1.12 per share. For the first quarter, the company expects same-store sales to be up 35 percent and profits of 18 cents to 20 cents per share.

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