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Michael Kors Holdings Ltd (KORS.N)

KORS.N on New York Stock Exchange

56.29USD
17 Nov 2017
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Latest Key Developments (Source: Significant Developments)

Michael Kors to have 67 fewer promotional days in Q3 vs last yr
Tuesday, 7 Nov 2017 08:00am EST 

Nov 7 (Reuters) - Michael Kors Holdings Ltd :Michael Kors - Q2 women's footwear global comparable sales saw double-digit growth -conf call.Michael Kors - saw double-digit percent growth in Q2 women's ready-to-wear global comparable sales -conf call.Michael Kors - To launch campaign with Google <<>> to market its Access smart watches in the holiday season -conf call.Michael Kors - saw increases in average unit retail across women's accessories, footwear and ready-to-wear in Q2 -conf call.Michael Kors - Q2 licensing revenue decreased 2.1 percent primarily due to declines in fashion watches and jewelry -conf call.Michael Kors - expects sales decline in fashion watch category through 2H 2018 -conf call.Michael Kors - Jimmy Choo will be incorporated into co's results beginning November 1 -conf call.Michael Kors CFO - "In the third quarter, we will be anniversary-ing the highest level of promotional activity in the prior year" -conf call.Michael Kors CFO - new promotional strategy will result in 66 percent reduction in promotional days in co's digital flagships, stores compared to prior year.Michael Kors CFO - expect to have 67 fewer promotional days than last year in wholesale in Q3.Michael Kors CFO - "We anticipate that sales will decrease more than our full year expectation of a low-teens decline".Michael Kors CFO - "(we expect Q3) wholesale gross margin will decline more than in previous quarters".  Full Article

Michael Kors announces qtrly ‍earnings were $1.32 per share
Monday, 6 Nov 2017 06:55am EST 

Nov 6 (Reuters) - Michael Kors Holdings Ltd :Michael kors holdings limited announces second quarter fiscal 2018 results.Michael Kors Holdings Ltd - ‍Raises full year outlook​.Michael Kors Holdings Ltd - ‍For Q3 of fiscal 2018, company expects total revenue to be between $1.355 billion and $1.385 billion​.Michael Kors Holdings Ltd - Qtrly ‍earnings per diluted share were $1.32 on a reported basis and $1.33 on an adjusted basis​.Michael Kors Holdings Ltd qtrly ‍total revenue increased 5.4% to $1.15 billion from $1.09 billion in Q2 of fiscal 2017​.Michael Kors Holdings Ltd - ‍Q3 comparable sales for Michael Kors Brand are expected to decline in high-single digits​.Michael Kors Holdings Ltd - ‍Expects Q3 operating margin to be approximately 17.5%​.Michael Kors Holdings Ltd - Q3 ‍diluted earnings per share are expected to be in range of $1.22 to $1.27​.Michael Kors Holdings Ltd qtrly ‍retail net sales increased 8.0% to $645.0 million​.Michael Kors Holdings Ltd qtrly ‍comparable sales decreased 1.8%​.Michael Kors Holdings Ltd - ‍For 2018, expects total revenue to be about $4.59 billion, including between $215 million and $225 million of incremental Jimmy Choo revenue.Michael Kors Holdings Ltd - ‍For fiscal 2018, comparable sales for Michael Kors Brand are expected to decline in mid-single digits​.Michael Kors Holdings Ltd - Outlook for ‍Q3 total revenue includes between $105 million and $110 million of incremental Jimmy Choo revenue​.  Full Article

Jimmy Choo says court approves scheme of arrangement, to cease trading on LSE
Friday, 27 Oct 2017 10:30am EDT 

Oct 27 (Reuters) - Jimmy Choo Plc :COURT MADE COURT ORDER IN CONNECTION WITH ACQUISITION, COURT APPROVES SCHEME SCHEME OF ARRANGEMENT​.‍SCHEME REMAINS SUBJECT TO DELIVERY OF COURT ORDER TO REGISTRAR OF COMPANIES FOR ENGLAND AND WALES WHICH IS EXPECTED TO OCCUR ON NOV. 1 ​.‍LAST DAY FOR DEALINGS IN, AND FOR REGISTRATION OF TRANSFERS OF, AND DISABLEMENT IN CREST OF, JIMMY CHOO SHARES IS EXPECTED TO BE OCT 30.‍JIMMY CHOO SHARES WILL CEASE TO BE ADMITTED TO TRADING ON LSE'S MAIN MARKET FOR LISTED SECURITIES BY 8.00 A.M. ON 2 NOVEMBER 2017​.  Full Article

Jimmy Choo says ‍scheme for Michael Kors deal to become effective on Nov. 1
Monday, 23 Oct 2017 06:58am EDT 

Oct 23 (Reuters) - Jimmy Choo Plc :‍SCHEME IN RELATION TO ACQUISITION BY MICHAEL KORS IS NOW EXPECTED TO BECOME EFFECTIVE ON 1 NOVEMBER 2017​.  Full Article

Jimmy Choo says European Commission clears Michael Kors deal
Tuesday, 10 Oct 2017 07:25am EDT 

Oct 10 (Reuters) - Jimmy Choo Plc :EUROPEAN COMMISSION PHASE 1 CLEARANCE AND UPDATE.‍EUROPEAN COMMISSION CONFIRMED ON 9 OCTOBER 2017 THAT IT HAS CLEARED UNCONDITIONALLY ACQUISITION BY MICHAEL KORS BIDCO FOLLOWING A PHASE I REVIEW​.‍ALL CONDITIONS TO SCHEME RELATING TO MERGER CONTROL HAVE NOW BEEN SATISFIED​.  Full Article

Michael Kors enters into first amendment to its second amended
Thursday, 5 Oct 2017 09:38am EDT 

Oct 5 (Reuters) - Michael Kors Holdings Ltd :Michael Kors - on october 4, 2017, co entered into first amendment to second amended and restated senior unsecured credit facility, dated Aug 2017‍​.Michael Kors - first amendment amends credit facility to provide if senior notes for Jimmy Choo deal issued, co's bridge credit facility is terminated‍​.  Full Article

MICHAEL KORS HOLDINGS LIMITED ANNOUNCES PROPOSED SENIOR NOTES OFFERING
Thursday, 5 Oct 2017 09:04am EDT 

Oct 5 (Reuters) - Michael Kors Holdings Ltd ::MICHAEL KORS HOLDINGS LIMITED ANNOUNCES PROPOSED SENIOR NOTES OFFERING.‍NOTES WILL BE ISSUED TO FINANCE, IN PART, CO'S PENDING ACQUISITION OF JIMMY CHOO PLC.‍PROCEEDS OF NOTES WILL BE HELD IN ESCROW UNTIL IMMEDIATELY PRIOR TO CONSUMMATION OF ACQUISITION​.‍MICHAEL KORS (USA) INC, A UNIT OF CO, INTENDS TO COMMENCE AN OFFERING OF SENIOR NOTES​.‍NOTES WILL BE SENIOR UNSECURED NOTES AND WILL BE GUARANTEED BY COMPANY​.  Full Article

Jimmy Choo ‍says Russian antitrust body clears Michael Kors offer​
Friday, 22 Sep 2017 09:13am EDT 

Sept 22 (Reuters) - JIMMY CHOO PLC ::‍RUSSIAN FEDERAL ANTIMONOPOLY SERVICE APPROVAL OF MICHAEL KORS OFFER​.  Full Article

Jimmy Choo says entered into an agreement with Accenture
Friday, 22 Sep 2017 02:00am EDT 

Sept 22 (Reuters) - Jimmy Choo Plc ::‍ANNOUNCES THAT IT HAS ENTERED INTO AN AGREEMENT WITH ACCENTURE, ADVISERS TO MICHAEL KORS​.  Full Article

Jimmy Choo shareholders approve takeover by Michael Kors
Monday, 18 Sep 2017 11:13am EDT 

Sept 18 (Reuters) - Jimmy Choo Plc ::General meeting to consider deal with michael kors was held on monday and co's investors voted to approve special resolution.  Full Article

BRIEF-Michael Kors to have 67 fewer promotional days in Q3 vs last yr

* Michael Kors - Q2 women's footwear global comparable sales saw double-digit growth -conf call