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Michael Kors Holdings Ltd (KORS.N)

KORS.N on New York Stock Exchange

36.76USD
26 May 2017
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Latest Key Developments (Source: Significant Developments)

Michael Kors names Thomas J. Edwards, Jr. as Chief Financial Officer
Monday, 17 Apr 2017 04:15pm EDT 

April 17 (Reuters) - Michael Kors Holdings Ltd ::Michael Kors names Thomas J. Edwards, Jr. as Chief Financial Officer.Edwards is succeeding Joseph B. Parsons.Parsons will remain with company through August 1, 2017 in his current role.  Full Article

Flossbach Von Storch AG reports 5.9 pct passive stake in Michael Kors Holdings
Friday, 10 Feb 2017 11:56am EST 

Michael Kors Holdings Ltd :Flossbach Von Storch AG reports 5.9 percent passive stake in Michael Kors Holdings Ltd as on December 31, 2016 - SEC filing.  Full Article

Michael Kors CEO - Will reduce promotional activity across retail and wholesale channels in Americas
Tuesday, 7 Feb 2017 12:29pm EST 

Michael Kors : CEO - saw Q3 average unit retails hurt by highly promotional environment and continued fashion trends towards cross body and small leather goods . CEO - fashion watch category remained challenged which continued to negatively impact Q3 comparable sales . CEO on conf call- in stores, traffic declined in high single-digits to negatively impact Q3 comparable sales . CEO -believe Q3 European comp sales fell due to continuation of weak tourism trends and reduced consumer confidence related to Brexit and terrorist attacks in certain markets . CEO -beginning this month, reducing promotional activity across retail and wholesale channels in americas . Reducing promotional activity in retail and wholesale channels expected to hurt net sales in FY 2018, declines expected to moderate in FY 2019 . Anticipate market volatility in Europe throughout the calendar year . CEO- increasing penetration of footwear in our largest volume doors . CEO- new online dress shop scheduled to launch this fall . CEO- will significantly increase digital marketing spend to fuel fast growing ecommerce business globally . CFO- in fiscal 2018 anticipate modest top line growth driven by higher retail net sales, operating margin in the high teens and modest eps growth.  Full Article

Michael Kors Holdings posts Q3 earnings per share $1.64
Tuesday, 7 Feb 2017 07:07am EST 

Michael Kors Holdings Ltd : Michael Kors Holdings Limited announces third quarter fiscal 2017 results . Sees FY 2017 non-GAAP earnings per share $4.15 to $4.19 excluding items . Sees Q4 2017 earnings per share $0.68 to $0.72 . Q3 earnings per share $1.64 . Sees Q4 2017 revenue $1.035 billion to $1.055 billion . Q3 revenue $1.35 billion versus I/B/E/S view $1.36 billion . Q3 same store sales fell 6.9 percent . Sees FY 2017 revenue about $4.48 billion . Q3 earnings per share view $1.63 -- Thomson Reuters I/B/E/S . Michael Kors Holdings Ltd - on a constant currency basis, qtrly retail net sales increased 10.0 pct, and comparable sales decreased 6.4 pct . Michael Kors Holdings Ltd - "we were disappointed with our North American and European comparable store sales performance during quarter" . For Q4 of fiscal 2017, company expects total revenue to be between $1.035 billion and $1.055 billion . Michael Kors Holdings Ltd - we believe that "headwinds" in North American and European markets will continue throughout spring season . Michael Kors Holdings Ltd - for fiscal 2017 company now expects comparable sales to decrease in high-single digit range . Michael Kors Holdings Ltd - sees fiscal 2017 gaap earnings per share $4.09 to $4.13 . FY2017 earnings per share view $4.37, revenue view $4.55 billion -- Thomson Reuters I/B/E/S.  Full Article

Michael Kors to further reduce promotional activity, starting Q1 next year - executive
Wednesday, 10 Aug 2016 09:34am EDT 

: Michael Kors Executive - Capital expenditures expected to total about $250 million for fiscal 2017 - conf call . Michael Kors Executive - Will remove products from all store couponing for all retail partners in the U.S. and in Canada - conf call . Michael Kors Executive - Will be removing products from all of the department store friends and family sales - conf call . Michael Kors CEO - In quarter, negative traffic in Benelux region, France, UK, due to uncertainty among consumers around Brexit, decline in tourism - conf call . Michael Kors Executive - To further reduce promotional activity, starting in calendar Q1 of next year Further company coverage: [KORS.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Michael Kors Q1 EPS $0.88 excluding items
Wednesday, 10 Aug 2016 07:14am EDT 

Michael Kors Holdings Ltd : Sees FY 2017 non-GAAP earnings per share $4.56 to $4.64 excluding items . Q1 earnings per share $0.88 excluding items . Q1 revenue $987.9 million versus i/b/e/s view $953 million . Q1 earnings per share $0.83 . Michael Kors Holdings Limited announces first quarter fiscal 2017 results . Sees q2 2017 earnings per share $0.84 to $0.88 . Sees q2 2017 revenue $1.07 billion to $1.085 billion . Q1 earnings per share view $0.74 -- Thomson Reuters I/B/E/S . Single digit range . Expects an increase in gross margin of approximately 100 to 130 basis points in q2 . Sees Fiscal 2017 Comparable Sales To Decrease In Mid-Single digit range . Progress during quarter muted by decline in mall traffic trends,decrease in tourism in certain major cities that negatively impacted comparable sales . For fiscal 2017, diluted earnings per share are expected to be in range of $4.51 to $4.59 on a gaap basis . Q2 earnings per share view $1.03, revenue view $1.11 billion -- Thomson Reuters I/B/E/S . FY 2017 earnings per share view $4.60, revenue view $4.66 billion -- Thomson Reuters I/B/E/S . Qtrly comparable sales decreased 7.4% . On a constant currency basis, qtrly retail net sales grew 7.4%, and qtrly comparable sales decreased 7.6% . For fiscal 2017, company expects total revenue to be flat versus prior year.  Full Article

Michael Kors CEO John Idol's total compensation $15.07 mln in 2016
Tuesday, 21 Jun 2016 04:18pm EDT 

Michael Kors Holdings Ltd : Honorary Chairman & Chief Creative Officer Michael Kors' 2016 total compensation was $15.1 million - sec filing .CEO John D. Idol's 2016 total compensation of $15.07 million versus $15.08 million in 2015.  Full Article

Michael Kors acquires Greater China licensee
Wednesday, 1 Jun 2016 06:55am EDT 

Michael Kors Holdings Ltd : Michael Kors acquires Greater China licensee . Michael Kors Holdings Ltd says acquisition is expected to be accretive to earnings per share in fiscal 2018 and thereafter . Acquisition is expected to be accretive to earnings per share in fiscal 2018 and thereafter . For fiscal year 2017, Greater China business is expected to contribute approximately $200 million to retail net sales . Deal expected to be neutral to EPS on a gaap basis, and accretive to EPS on a non-gaap basis, excluding $15 million of one-time acquisition costs . Deal for $500 million in cash .Completed acquisition of Michael Kors (HK) Limited, exclusive licensee of company in China.  Full Article

Michael Kors Holdings Q4 earnings per share $0.98
Wednesday, 1 Jun 2016 06:55am EDT 

Michael Kors Holdings Ltd : Sees FY 2017 non-gaap earnings per share $4.56 to $4.64 excluding items . Q4 same store sales rose 0.3 percent . Sees Q1 2017 non-gaap earnings per share $0.70 to $0.74 excluding items . Q4 earnings per share view $0.96 -- Thomson Reuters I/B/E/S . Q1 earnings per share view $0.94, revenue view $1.03 billion -- Thomson Reuters I/B/E/S . Announces new $1 billion stock repurchase program . Michael Kors Holdings Ltd sees increase in operating expense in Q1 . Michael Kors Holdings Ltd sees fiscal 2017 total revenue to be flat versus prior year and comparable sales to decrease in low single digit range . For fiscal 2017, diluted earnings per share are expected to be in range of $4.56 to $4.64 on a non-gaap basis . For fiscal 2017, diluted earnings per share are expected to be $4.47 to $4.55 on a gaap basis . FY 2017 earnings per share view $4.50, revenue view $4.81 billion -- Thomson Reuters I/B/E/S . Q1 revenue outlook includes planned reduction in wholesale shipments, comparable sales to decrease in mid-single digit range . Michael Kors Holdings Limited announces fourth quarter and annual fiscal 2016 results . Sees Q1 2017 revenue $940 million to $950 million . Q4 revenue $1.2 billion versus i/b/e/s view $1.15 billion .Q4 earnings per share $0.98.  Full Article

Michael Kors Holdings gives Q2 2016 revenue outlook above estimates, EPS below estimates, gives Q2 2016 comparable store sales outlook; reaffirms FY 2016 outlook and comparable store sales outlook
Thursday, 6 Aug 2015 07:02am EDT 

Michael Kors Holdings Ltd:Expects Q2 2016 expects total revenue to be in the range of $1.06 - $1.08 billion.Total revenue is expected to increase in the high single digit range assuming a $60 million impact from the change in foreign currency rates in Q2 2016.Expects a high single digit comparable store sales decrease on a reported basis and a low single digit decrease in Q2 2016.Q2 2016 diluted earnings per share are expected to be in the range of $0.86 to $0.90.Q2 2016 revenue of $1.11 bln and EPS of $0.97 - Thomson Reuters I/B/E/S.Expects FY 2016 revenue of about $4.7 billion to $4.8 billion.FY 2016 flat comparable store sales on a reported basis, and a low single digit comparable store sales increase on a constant currency basis.FY 2016 Diluted earnings per share are expected to be in the range of $4.40 to $4.50.FY 2016 revenue of $4.66 bln and EPS of $4.25 - Thomson Reuters I/B/E/S.  Full Article

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Michael Kors, Coach in second round of Kate Spade auction: sources

Michael Kors Holding Inc and Coach Inc are among the companies that have made it through to the second round of bidding for handbag and accessories maker Kate Spade & Co , people familiar with the situation said on Friday.