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3 months ago
BRIEF-Michael Kors Holdings Q4 ‍loss per share $0.17, ‍announces $1 bln stock repurchase program​​
May 31, 2017 / 11:04 AM / 3 months ago

BRIEF-Michael Kors Holdings Q4 ‍loss per share $0.17, ‍announces $1 bln stock repurchase program​​

May 31 (Reuters) - Michael Kors Holdings Ltd:

* Michael Kors Holdings Limited announces fourth quarter and annual fiscal 2017 results

* Michael Kors Holdings Ltd - ‍announces new $1 billion stock repurchase program​

* Michael Kors Holdings Ltd says announces new $1 billion stock repurchase program

* Michael Kors Holdings Ltd says Q4 total revenue decreased 11.2% to $1.06 billion from $1.20 billion in q4 of fiscal 2016

* Michael Kors Holdings Ltd qtrly ‍loss per share $0.17​

* Michael Kors Holdings Ltd qtrly adjusted EPS of $0.73 excluding impairment charges

* Michael Kors Holdings Ltd - ‍for q1 of fiscal 2018, company expects total revenue to be between $910 million and $930 million​

* Michael Kors Holdings - for fiscal 2018, company expects total revenue to be approximately $4.25 billion

* Michael Kors Holdings Ltd says for fiscal 2018, company expects comparable sales to decrease in high-single digit range

* Michael Kors -in Q4 of fiscal 2017 company recorded impairment charges of $193.8 million primarily related to underperforming lifestyle stores

* Sees ‍q1 comparable sales decrease in high-single digit range​

* Q4 earnings per share view $0.70, revenue view $1.05 billion -- Thomson Reuters I/B/E/S

* Michael Kors Holdings Ltd says for fiscal 2018, company sees operating margin is expected to be approximately 16.0%

* Michael Kors -intends to improve profitability of its store fleet by closing between 100 and 125 of its full-price retail stores over next 2 years

* Sees q1 ‍diluted earnings per share are expected to be in range of $0.60 - $0.64​

* Michael Kors Holdings Ltd - for full-year fiscal 2018, diluted earnings per share are expected to be in range of $3.57 - $3.67

* Michael Kors Holdings Ltd says expects to incur approximately $100 - $125 million of one-time costs associated with store closures

* Michael kors holdings ltd - ‍over next 2 years company expects to incur approximately $100 - $125 million of one-time costs associated with store closures​

* Michael Kors Holdings Ltd says collectively, company ultimately anticipates ongoing annual savings of $60 million as a result of store closures, others

* Q1 earnings per share view $0.81, revenue view $941.3 million -- Thomson Reuters I/B/E/S

* Fy2018 earnings per share view $3.94, revenue view $4.37 billion -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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