Edition:
United Kingdom

Michael Kors Holdings Ltd (KORS.N)

KORS.N on New York Stock Exchange

65.86USD
19 Jan 2018
Change (% chg)

$0.85 (+1.31%)
Prev Close
$65.01
Open
$65.26
Day's High
$65.96
Day's Low
$64.84
Volume
524,367
Avg. Vol
554,788
52-wk High
$65.96
52-wk Low
$32.38

Latest Key Developments (Source: Significant Developments)

Interparfums and Jimmy Choo Extend Partnership To 2031‍​
Monday, 4 Dec 2017 

Dec 4 (Reuters) - INTERPARFUMS SA ::JIMMY CHOO AND INTERPARFUMS EXTEND PARTNERSHIP TO 2031‍​.  Full Article

Michael Kors neames Francesca Leoni new Chief Brand Officer
Tuesday, 21 Nov 2017 

Nov 21 (Reuters) - Michael Kors Holdings Ltd ::Michael Kors announces new Chief Brand Officer.Michael Kors Holdings - ‍named Francesca Leoni as new Senior Vice President, Chief Brand Officer for Michael Kors brand​.  Full Article

Michael Kors to have 67 fewer promotional days in Q3 vs last yr
Tuesday, 7 Nov 2017 

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 

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 

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 

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 

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 files for non-timely 10-Q
Friday, 10 Feb 2017 

Michael Kors Holdings Ltd : Michael Kors Holdings Ltd - files for non-timely 10-Q - SEC filing .Does not expect its previously reported ending cash balance of $368.8 million as of December 31, 2016 to change.  Full Article

Michael Kors to further reduce promotional activity, starting Q1 next year - executive
Wednesday, 10 Aug 2016 

: 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 

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

UPDATE 1-Coach, Jimmy Choo fragrances boost France's Interparfums

Jan 10 French perfumes maker Interparfums on Wednesday raised its 2017 revenue guidance for the second time after a strong end to the year and better-than-expected sales of men's fragrance Coach.