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Stock Market & Financial Investment News

News Breaks
February 3, 2014
13:04 EDTKORSEarnings Preview: Analysts expect Michael Kors to meet or exceed Q3 guidance
Michael Kors (KORS) is scheduled to report third quarter results before the market open on Tuesday, February 4 with a conference call scheduled for 8:00 am ET. Michael Kors Holdings Limited is a global lifestyle brand and global accessories, footwear and apparel company. EXPECTATIONS: Analysts are looking for EPS of 86c on revenue of $859.94M, according to First Call. The consensus range for EPS is 82c-89c on revenue of $842.7M-$885.09M. LAST QUARTER: Michael Kors reported Q2 EPS of 71c against estimates of 68c, on revenue of $740.3M against estimates for $725.9M. Comparable store sales increased 22.9%. The company forecast Q3 EPS 83c-85c on revenue of $845M-$855M, and said this outlook assumes a SSS increase in the 15%-20% range. Michael Kors also forecast FY14 EPS $2.77-$2.81 against estimates of $2.83 on revenue of $2.9B-$3B against estimates of $3.03; the company also sees FY SSS up approximately 20%. STREET RESEARCH: Morgan Stanley expects the company to meet or beat the 86c EPS estimate and for the market to reward 20% global comps. The firm believes Michael Kors will deliver "best in class" holiday sales, and says the brand remains the most searched handbag brand. Buckingham expects Michael Kors' sales and earnings guidance to surpass expectations During the quarter, shares were downgraded to Neutral from Buy at Citigroup and Wedbush said markdowns were higher than expected during the holiday season. Michael Kors was mentioned positively at ITG Research in January. OTHER STOCKS: Michael Kors peer Coach (COH) recently reported weaker than expected Q2 results. PRICE ACTION: Michael Kors shares are up almost 3% over the last three months, despite the stock being down over 3% in today's trading.
News For KORS From The Last 14 Days
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September 15, 2014
13:14 EDTKORSMichael Kors trends tracking above Street, says ITG Research
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September 12, 2014
07:01 EDTKORSMichael Kors names Pascale Meyran as Chief Human Resources Officer
Michael Kors Holdings Limited announced that Pascale Meyran has been named to the newly created role of Senior Vice President, Chief Human Resources Officer. She will report to John D. Idol, the company’s chairman and CEO. Meyran’s appointment, effective September 15, 2014, is a key element in the brand’s development of a strategic global infrastructure. In this new role, Ms. Meyran will oversee the creation of a best in class Global Human Resources Department, with a focus on a robust learning and talent development program.
September 9, 2014
09:06 EDTKORSJimmy Choo near London IPO with $1B valuation, Bloomberg says
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September 5, 2014
16:25 EDTKORSOn The Fly: Closing Wrap
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12:57 EDTKORSOn The Fly: Midday Wrap
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12:42 EDTKORSStocks with increasing options volume
Stocks with increasing options volume: VALE MCP KORS WAG GM PCLN
09:19 EDTKORSMichael Kors margin concerns still overblown, says Buckingham
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09:16 EDTKORSOn The Fly: Pre-market Movers
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08:25 EDTKORSMichael Kors 11.63M share Spot Secondary priced at $76.75
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07:27 EDTKORSMichael Kors volatility expected to move on offering of 11.63M shares for holder
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September 4, 2014
18:28 EDTKORSOn The Fly: After Hours Movers
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16:26 EDTKORSMichael Kors offers 11.63M shares for Sportswear Holdings
Michael Kors announced that it has launched a secondary public offering of ordinary shares pursuant to a shelf registration statement on Form S-3 filed with the SEC on behalf of Sportswear Holdings Limited, one of its principal founding shareholders, for the offering of 11.63M ordinary shares, representing all of the ordinary shares held by Sportswear Holdings. Effective as of the closing date of the offering, Lawrence Stroll and Silas Chou will resign from the company’s board. Following their resignation, the company’s board will be comprised of seven directors. J.P. Morgan Securities LLC will act as sole book-running manager for the offering.

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