Michael Kors - KORS - Delivered record results in the second quarter
11/13/2012 9:31:22 AM
Michael Kors Holdings Limited (NYSE:KORS), a global luxury lifestyle brand with a multi-channel strategy, unique design and strong infrastructure, announced its financial results for the second quarter ended September 29, 2012.
KORS - Outlook
For the third quarter of fiscal 2013, the Company expects total revenue to be in the range of $525 million to $535 million. This assumes a mid-twenty percent comparable store sales increase. Diluted earnings per share are expected to be in the range of $0.37 to $0.39 for the third quarter of fiscal 2013. This assumes 202 million diluted weighted average shares outstanding and a 38% tax rate.
For fiscal 2013, the Company now expects total revenue to be in the range of $1.86 billion to $1.96 billion. This assumes a comparable store sales increase of approximately 30%. Diluted earnings per share are now expected to be in the range of $1.48 to $1.50 for fiscal 2013. This assumes 201.2 million diluted weighted average shares outstanding and a 38% tax rate.
About Michael Kors - KORS
Michael Kors (KORS) is a world-renowned, award-winning designer of luxury accessories and ready to wear. His namesake company, established in 1981, currently produces a range of products through his Michael Kors, KORS Michael Kors and MICHAEL Michael Kors labels, including accessories, footwear, watches, jewelry, men’s and women’s ready to wear, and a full line of fragrance products. Michael Kors stores are operated, either directly or through licensing partners, in some of the most prestigious cities in the world, including New York, Beverly Hills, Chicago, London, Milan, Paris, Munich, Istanbul, Dubai, Seoul, Tokyo and Hong Kong.