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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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July 28, 2015
09:04 EDTKORSHandbag makers estimates, price targets lowered at BMO Capital
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July 23, 2015
10:00 EDTKORSOn The Fly: Analyst Downgrade Summary
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08:48 EDTKORSMichael Kors downgraded to Neutral from Buy at Buckingham
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July 16, 2015
10:00 EDTKORSOn The Fly: Analyst Downgrade Summary
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09:21 EDTKORSMichael Kors downgraded to Mixed from Positive at OTR Global
OTR Global downgraded Michael Kors to Mixed following checks that indicate U.S. Department Store sales are below goals and feedback that popularity is waning due to over distribution.
July 15, 2015
11:24 EDTKORSStocks with call strike movement; AAL KORS
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