Key Developments: Michael Kors Holdings Ltd (KORS.N)

KORS.N on New York Stock Exchange

81.00USD
28 Aug 2014
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Latest Key Developments (Source: Significant Developments)

Michael Kors Holdings Ltd gives Q2 2015 revenue and comparable store sales outlook; EPS outlook below analysts' estimates; raises FY 2015 outlook
Monday, 4 Aug 2014 07:00am EDT 

Michael Kors Holdings Ltd:Expects Q2 2015 total revenue to be in the range of $950-$960 mln, this assumes a comparable store sales increase in the high teens.Expects Q2 2015 diluted earnings per share to be in the range of $0.85 to $0.87.Expects FY 2015 total revenue to be in the range of $4.25 -$4.35 bln, this assumes a comparable store sales increase in the high teens.Expects FY 2015 diluted earnings per share to be in the range of $4.00 to $4.05.Q2 2015 revenue of $959 mln, EPS of $0.89 - Thomson Reuters I/B/E/S.FY 2015 revenue of $4.202 bln, EPS of $3.96 - Thomson Reuters I/B/E/S.  Full Article

Michael Kors Holdings Ltd gives Q1 2015 guidance; revenue guidance above analysts' estimates; gives FY 2015 guidance in line with analysts' estimates; gives Q1, FY 2015 sames store sales guidance
Wednesday, 28 May 2014 07:00am EDT 

Michael Kors Holdings Ltd:Expects Q1 2015 total revenue to be in the range of $840 mln to $850 mln.Q1 2015 guidance assumes a comparable store sales increase of about 20 pct.Expects Q1 2015 diluted EPS to be in the range of $0.78 to $0.80.Expects FY 2015 total revenue to be in the range of $4.0 bln to $4.1 bln.FY 2015 assumes a comparable store sales increase in the high teens.Expects FY 2015 EPS to be in the range of $3.85-$3.91.Q1 2015 revenue of $826 mln and EPS of $0.79 - Thomson Reuters I/B/E/S.FY 2015 revenue of $4.05 bln and EPS of $3.85 - Thomson Reuters I/B/E/S.  Full Article

Michael Kors Holdings Ltd announces Eyewear License with Luxottica Group
Tuesday, 15 Apr 2014 12:00pm EDT 

Michael Kors Holdings Ltd and Luxottica Group:Signs new and exclusive eyewear license agreement for Michael Kors Collection and MICHAEL Michael Kors eyewear.First collection produced with Luxottica will launch in January 2015.  Full Article

Michael Kors Holdings Ltd issues Q4 2014 guidance; issues FY 2014 guidance above analysts' estimates; comments on Q4, FY 2014 comparable same store sales guidance
Tuesday, 4 Feb 2014 07:00am EST 

Michael Kors Holdings Ltd:Expects Q4 2014 total revenue to be in the range of $790-$800 mln, which assumes a comparable store sales increase in the range of 15 pct to 20 pct.Expects Q4 2014 diluted EPS in the range of $0.63-$0.65.Expects FY 2014 total revenue to be in the range of $3.18-$3.19 bln, which assumes a comparable store sales increase of about 25 pct.Expects Q4 2014 diluted EPS in the range of $3.07-$3.09.Q4 2014 revenue of $790 mln and EPS of $0.65 - Thomson Reuters I/B/E/S.FY 2014 revenue of $3.03 bln and EPS of $2.83 - Thomson Reuters I/B/E/S.  Full Article

Michael Kors Holdings Ltd Issues Q3 2014 Outlook; Revenue Outlook Above Estimates; Raises FY 2014 Outlook; Comments On Q3 2014 And Reaffirms FY 2014 Comparable Store Sales Outlook
Tuesday, 5 Nov 2013 07:00am EST 

Michael Kors Holdings Ltd announced that for third quarter of 2014, it expects total revenue to be in the range of $845 million to $855 million. This assumes a comparable store sales increase in the range of 15% to 20%. Diluted earnings per share are expected to be in the range of $0.83 to $0.85 for the third quarter of 2014. For fiscal 2014, the Company now expects total revenue to be in the range of $2.9 billion to $3.0 billion. This assumes a comparable store sales increase of approximately 20%. Diluted earnings per share are now expected to be in the range of $2.77 to $2.81 for fiscal 2014. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $841 million and EPS of $0.85 for third quarter of 2014; revenue of $2.8 billion and EPS of $2.57 for fiscal 2014.  Full Article

Michael Kors Holdings Ltd Issues Q2 2014 Guidance In Line With Estimates; Comments On Q2 2014 Comparable Store Sales Guidance; Raises FY 2014 Guidance; Raises FY 2014 Comparable Store Sales Guidance
Tuesday, 6 Aug 2013 07:00am EDT 

Michael Kors Holdings Ltd announced that for second quarter of 2014, it expects total revenue to be in the range of $695 million to $705 million. This assumes a comparable store sales increase in the range of 15% to 20%. Diluted earnings per share are expected to be in the range of $0.62 to $0.64 for the second quarter of fiscal 2014. For fiscal 2014, it expects total revenue to be in the range of $2.8 billion to $2.9 billion. This assumes a comparable store sales increase of approximately 20%. Diluted earnings per share are now expected to be in the range of $2.67 to $2.69 for fiscal 2014. This assumes 204.8 million weighted average diluted shares outstanding and a 36% tax rate. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $697 million and EPS of $0.64 for second quarter of 2014; revenue of $2.8 billion and EPS of $2.57 for fiscal 2014.  Full Article

Michael Kors Holdings Ltd Issues Q1, FY 2014 EPS Guidance; Revenue Guidance Below Analysts' Estimates; Comments On Q1, FY 2014 Comparable Same Store Sales Guidance
Wednesday, 29 May 2013 07:00am EDT 

Michael Kors Holdings Ltd announced that for first quarter of 2014, it expects total revenue to be in the range of $555 million to $565 million. This assumes a comparable store sales increase of approximately 20% and Diluted earnings per share (EPS) are expected to be in the range of $0.46 to $0.48. For fiscal 2014, it expects total revenue to be in the range of $2.65 billion to $2.75 billion. This assumes a comparable store sales increase in the range of 15% to 20% and Diluted EPS are expected to be in the range of $2.43 to $2.47. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $566 million and EPS of $0.48 for first quarter of 2014; revenue of $2.82 billion and EPS of $2.45 for fiscal 2014.  Full Article

Michael Kors Holdings Ltd Announces Pricing of Secondary Public Offering
Wednesday, 20 Feb 2013 07:15pm EST 

Michael Kors Holdings Ltd announced the pricing of the secondary offering of 25,000,000 ordinary shares by certain selling shareholders at a price of $61.50 per share. In addition, certain of the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 3,750,000 ordinary shares. The secondary offering is expected to close on or about February 26, 2013. Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and Goldman, Sachs & Co. are joint book-running managers, and Robert W. Baird & Co. Incorporated, HSBC Securities (USA) Inc., Jefferies & Company, Inc., Nomura Securities International, Inc. and Piper Jaffray & Co. are co-managers for the offering. Lebenthal & Co., LLC and Telsey Advisory Group, LLC are also underwriters for the offering.  Full Article

Michael Kors Holdings Ltd Launches Secondary Public Offering
Tuesday, 19 Feb 2013 04:35pm EST 

Michael Kors Holdings Ltd announced that it has launched a secondary public offering of ordinary shares pursuant to a shelf registration statement on Form F-3 filed with the Securities and Exchange Commission (the SEC) on behalf of certain selling shareholders for the offering of 25,000,000 ordinary shares. In addition, certain of the selling shareholders will grant the underwriters a 30-day option to purchase up to an additional 3,750,000 ordinary shares. Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and Goldman, Sachs & Co. will act as joint book-running managers, and Robert W. Baird & Co. Incorporated, HSBC Securities (USA) Inc., Jefferies & Company, Inc., Nomura Securities International, Inc. and Piper Jaffray & Co. will act as co-managers for the offering.  Full Article

Michael Kors Holdings Ltd Issues Q4 2013 Outlook; Revenue Guidance Above Estimates; Comments On Q4 2013 Same Store Sales Outlook; Raises FY 2013 Outlook; Reaffirms FY 2013 Sames Store Sales Outlook
Tuesday, 12 Feb 2013 07:00am EST 

Michael Kors Holdings Ltd announced that for fourth quarter of 2013, it expects total revenue to be in the range of $515-$525 million. This assumes a low to mid-twenty percent comparable store sales increase. Diluted earnings per share are expected to be in the range of $0.32-$0.34. For fiscal 2013, the Company now expects total revenue to be approximately $2.1 billion. This assumes a mid-thirty percent comparable store sales increase. Diluted earnings per share are now expected to be in the range of $1.80 to $1.82 for fiscal 2013. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $513 million and EPS of $0.33 for fourth quarter of 2013; revenue of $2.0 billion and EPS of $1.57 for fiscal 2013.  Full Article

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Michael Kors says margins to shrink as it expands in Europe

- Fast-growing Michael Kors Holdings Ltd , known for its trendy handbags and watches, said it expects margins to shrink for the year as it invests more to open stores in Europe and increases the number of shops it has in department stores.

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