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Michael Kors Q4 Tops Estimates; Shares Jump

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Michael Kors logoNew York—Michael Kors is on a roll.

Michael Kors Holdings Ltd. posted Q4 net of $161.0 million (78 cents share), compared with $101.1 million (50 cents per share), a year before. This beat analyst expectations by 10 cents per share.

Retail net sales rose 49.7% to $408.4 million. A 26.2% increase in comp store sales plus 101 net new store openings since the end of Q4 fiscal 2013 helped drive retail numbers up. Wholesale net sales increased 55.5% to $473.7 million.

Licensing revenue, coming from numerous accessories classifications and other items, increased 79.1% to $35.4 million.

As Michael Kors looks to next year, it projects first-quarter total revenue of $840 million to $850 million, assuming comp store sales growth of approximately 20%. First-quarter earnings per share are likely to be in the range of 78 cents to 80 cents.

Analysts project earnings per share of 79 cents on $826.05 million revenue for Q1 2015.

For fiscal 2015, the company expects total revenue to be around $4 billion, assuming comp store sales increase in the high teens. Annual earnings per share are expected in the range of $3.85 to $3.91. Analysts anticipate earnings per share of $3.85 and revenue of $4.06 billion for the year.




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