May 30, 2018 / 11:03 AM / 6 months ago

Handbag maker Michael Kors tops 4th-quarter revenue estimates

May 30 (Reuters) - Michael Kors Holdings Ltd topped Wall Street forecasts for fourth-quarter revenue on Wednesday, as the handbag maker’s efforts to scale back discounts paid off.

Net income attributable to Kors was $44.1 million or 29 cents per share in the three months ended March 31, compared with a net loss of $26.8 million or 17 cents per share a year earlier.

Revenue rose to $1.18 billion from $1.06 billion, exceeding analysts’ average estimate of $1.15 billion, according to Thomson Reuters I/B/E/S. (Reporting by Uday Sampath in Bengaluru; Editing by Sai Sachin Ravikumar)

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