Michael Kors Holdings Earnings: Here’s Why Investors are Buying Shares Now

Michael Kors Holdings (NYSE:KORS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.36%.

Michael Kors Holdings Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 79.41% to $0.61 in the quarter versus EPS of $0.34 in the year-earlier quarter.

Revenue: Rose 54.51% to $641 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Michael Kors Holdings reported adjusted EPS income of $0.61 per share. By that measure, the company beat the mean analyst estimate of $0.49. It beat the average revenue estimate of $570.52 million.

Quoting Management: John D. Idol, the Company’s Chairman and Chief Executive Officer, said, “Our exceptional first quarter financial results demonstrate the sustained strong demand for the Michael Kors luxury brand. We attribute the ongoing momentum to our fashion design leadership combined with an aspirational jet-set luxury in-store experience. As we continue to successfully execute on our strategic initiatives, we remain excited about our future growth potential.”

Key Stats (on next page)…

Revenue increased 7.34% from $597.15 million in the previous quarter. EPS increased 22% from $0.50 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.63 to a profit $0.64. For the current year, the average estimate has moved up from a profit of $2.44 to a profit of $2.57 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)