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Michael Kors Holdings Ltd (KORS.N)

KORS.N on New York Stock Exchange

38.83USD
12 Dec 2018
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$0.38 (+0.99%)
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Latest Key Developments (Source: Significant Developments)

Michael Kors Qtrly Earnings Per Share $0.91
Wednesday, 7 Nov 2018 

Nov 7 (Reuters) - Michael Kors Holdings Ltd ::MICHAEL KORS HOLDINGS - RAISED GUIDANCE FOR OPERATING MARGIN TO ABOUT 18.2% FOR 2019.MICHAEL KORS HOLDINGS LIMITED ANNOUNCES SECOND QUARTER FISCAL 2019 RESULTS.Q2 ADJUSTED EARNINGS PER SHARE $1.27.Q2 EARNINGS PER SHARE $0.91.Q2 REVENUE $1.25 BILLION VERSUS I/B/E/S VIEW $1.26 BILLION.Q2 SAME STORE SALES FELL 2.1 PERCENT.SEES FY 2019 ADJUSTED EARNINGS PER SHARE $4.95 TO $5.05.SEES Q3 2019 EARNINGS PER SHARE $1.52 TO $1.57.SEES FY 2019 REVENUE ABOUT $5.125 BILLION.SEES Q3 2019 REVENUE ABOUT $1.46 BILLION.Q2 EARNINGS PER SHARE VIEW $1.10 -- THOMSON REUTERS I/B/E/S.RAISES FULL YEAR ADJUSTED EARNINGS PER SHARE OUTLOOK TO $4.95 TO $5.05 FROM $4.90 TO $5.00.Q3 SAME STORE SALES ON REPORTED BASIS ARE EXPECTED TO DECLINE IN LOW SINGLE DIGITS.Q3 OPERATING MARGIN IS EXPECTED TO BE APPROXIMATELY 20.8%.FY2019 EARNINGS PER SHARE VIEW $5.03, REVENUE VIEW $5.14 BILLION -- THOMSON REUTERS I/B/E/S.EXPECTS Q3 RETAIL REVENUE FOR MICHAEL KORS TO GROW IN LOW SINGLE DIGITS.MICHAEL KORS HOLDINGS - SEES FY REPORTED COMPARABLE STORE SALES FOR MICHAEL KORS DOWN IN LOW SINGLE DIGITS, DRIVEN BY AN UNFAVORABLE CURRENCY IMPACT.Q3 EARNINGS PER SHARE VIEW $1.82, REVENUE VIEW $1.48 BILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Michael Kors Says Entered Into Debt Financing Commitment Letter With JPmorgan Chase Bank, N.A. And Barclays Bank PLC
Tuesday, 25 Sep 2018 

Sept 25 (Reuters) - Michael Kors Holdings Ltd ::MICHAEL KORS - ENTERED INTO A DEBT FINANCING COMMITMENT LETTER WITH JPMORGAN CHASE BANK, N.A. AND BARCLAYS BANK PLC RELATED TO VERSACE DEAL.MICHAEL KORS - JPMORGAN CHASE BANK, N.A. AND BARCLAYS BANK PLC COMMITTED TO ARRANGE AND PROVIDE WITH A SENIOR UNSECURED TERM LOAN FACILITY OF $1.6 BILLION.  Full Article

Michael Kors to focus on Versace runway collection, accessories to boost profitability
Tuesday, 25 Sep 2018 

Sept 25 (Reuters) - Michael Kors CEO John Idol says: :VERSACE RUNWAY COLLECTION WILL REMAIN FOCUS, PUSH ON ACCESSORIES WILL IMPROVE PROFITABILITY OF GROUP.VERSACE IS CURRENTLY "UNDERDEVELOPED", "THIS IS GOING TO CHANGE" WITH FINANCIAL BACKING OF THE NEWLY-CREATED HOLDING CAPRI.WILL LOOK AT VERSACE PORTFOLIO AND DECIDE IF THERE IS RATIONALISATION TO BE DONE OVER NEXT MONTHS.WHOLESALE WITH LUXURY DEPARTMENT STORES BIG OPPORTUNITY FOR VERSACE.NEWLY-CREATED CAPRI HOLDING WILL NOT LOOK AT FURTHER ACQUISITIONS BUT FOCUS ON ITS THREE BRANDS.  Full Article

Michael Kors targets "high teens" Versace EBITDA Margin in long term
Tuesday, 25 Sep 2018 

Sept 25 (Reuters) - Michael Kors Chief Financial Officer Thomas Edwards says: :SEES LONG-TERM EBITDA MARGIN IN THE "HIGH TEENS" RANGE.  Full Article

Michael Kors sees Versace revenues growing to $1.2 bln in 2022
Tuesday, 25 Sep 2018 

Sept 25 (Reuters) - Michael Kors says in slides posted after Versace deal: :TARGETS VERSACE REVENUES GROWING TO $775 MILLION IN 2018, $850 MILLION IN 2019, $1.2 BILLION IN 2022 .TARGETS VERSACE STORES GROWING TO 250 UNITS IN 2022 FROM 220 IN 2018 .DEAL ENVISAGES REVENUE MULTIPLE OF 2.5, EBITDA MULTIPLE OF 22 .  Full Article

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

UPDATE 8-Black Friday deals lure U.S. shoppers, biggest sales gains online

NEW YORK, Nov 23 Shoppers across the United States snapped up deep discounts on toys, clothing and electronics both online and at stores on Black Friday, giving retailers a strong start to their make-or-break holiday season.