$KORS (Michael Kors Holdings Limited)

$KORS {{ '2016-08-10T11:59:04+0000' | timeago}} • Announcement

In 1Q17, $KORS' total revenue increased 0.2% to $987.9MM from $986MM in 1Q16. Revenue in the Americas fell 5%, European revenue grew 3.3%, and revenue in Asia grew 74.5% on a reported basis. Licensing revenue declined 20.9% in the quarter.

$KORS {{ '2017-10-05T16:52:43+0000' | timeago}} • Announcement

$KORS announced that Michael Kors (USA), Inc., its subsidiary, will commence an offering of senior notes. The notes will be issued to finance, in part, the company’s pending acquisition of Jimmy Choo PLC and its subsidiaries. The proceeds of the notes will be held in escrow until immediately prior to the consummation of the acquisition.

$KORS {{ '2017-08-08T19:38:27+0000' | timeago}} • Announcement

$KORS Michael Kors' acquisition of Jimmy Choo in a nutshell

$KORS {{ '2017-08-08T17:51:57+0000' | timeago}} • Announcement

$KORS lifted its outlook for FY18, the year which MKHL believes to be a transition year for the company. Revenue upped to approx $4.275Bil from the prior estimate of $4.25Bil and EPS also lifted to $3.62-3.72 from the previous expectation of $3.57-3.67. For 2Q18, the accessories maker expects revenue to be $1.035-1.055Bil and EPS to be $0.80-0.84.

$KORS {{ '2017-08-08T17:34:40+0000' | timeago}} • Announcement

Handbag maker $KORS said that its profit in 1Q18 was above the company's expectations. However, net income attributable to MKHL dropped 15% to $125.5MM, while on a per share basis, it decreased 4% to $0.80. Revenue fell 3.6% to $952.4MM due to lower sales in Americas and Europe regions. Comp store sales dropped 5.9% in the recently ended quarter.

$KORS {{ '2017-08-08T15:11:19+0000' | timeago}} • Infographic

$KORS Michael Kors Holdings Limited Earnings AlphaGraphic: Q1 2018 Highlights

$KORS {{ '2017-07-25T14:18:01+0000' | timeago}} • Announcement

$KORS agreed to buy Jimmy Choo Plc, a global luxury footwear and accessories brand. Jimmy Choo's shareholders will receive 230 pence per share, with an enterprise value of about $1.35Bil. The transaction is expected to close in calendar 4Q17. The acquisition is expected to be accretive on a GAAP basis in FY20.

$KORS {{ '2017-05-31T12:58:42+0000' | timeago}} • Webcast

$KORS expects annual savings of about $16MM as a result of store closures and the lower D&A associated with the impairment charge. In FY18, the company expects to close between 20 and 40 full-price stores.

$KORS {{ '2017-05-31T12:55:19+0000' | timeago}} • Infographic

$KORS Michael Kors Holdings Earnings AlphaGraphics: Q4 2017 Highlights

$KORS {{ '2017-05-31T12:53:18+0000' | timeago}} • Webcast

In the Wholesale segment, $KORS' net sales declined 22.8% in 4Q17, with Americas declining 22.1%, driven mainly by reduced selling into the department store channel and the decision to reduce the authorized promotional periods to four times per year. In the License segment, revenue declined 6.2%, while Eyewear saw strong results in the quarter.

$KORS {{ '2017-05-31T12:38:37+0000' | timeago}} • Webcast

$KORS said it is planning to close between 100-125 lifestyle stores globally over the next two years. The company added that it will continue to selectively open new stores in key cities, with a primary focus on expanding its presence in Asia.

$KORS {{ '2017-05-31T12:35:41+0000' | timeago}} • Webcast

$KORS' Asia retail net sales rose more than 200% in 4Q17, driven by the shift in China sales to the company owned retail segment. However, Asia comparable sales, including Japan and Korea, grew in the low single digits on a reported basis and were flat on a constant currency basis.

$KORS {{ '2017-05-31T12:25:36+0000' | timeago}} • Webcast

$KORS stated that it continues to believe that China, along with Japan, Korea and Southeast Asia will generate $1Bil in revenue for the company. On a segment basis, the company is seeing men's as an important category of growth going forward.

$KORS {{ '2017-05-31T11:28:13+0000' | timeago}} • Announcement

For FY18, $KORS expects total revenue to be approx. $4.25Bil and comparable sales to decrease in the high-single digit range. Operating margin for FY18 is expected to be about 16%. Diluted EPS for FY18 is now expected to be in the range of $3.57-3.67.

$KORS {{ '2017-05-31T11:24:20+0000' | timeago}} • Announcement

For 1Q18, $KORS expects total revenue to be between $910-930MM, and a comparable sales decline in the high-single digit range. The company expects operating margin to be approx. 13%, while diluted EPS is expected to be in the range of $0.60-0.64 for 1Q18.

$KORS {{ '2017-05-31T11:20:07+0000' | timeago}} • Announcement

Luxury fashion company $KORS reported a 4Q17 loss, hurt by impairment charges, foreign currency translation impact and lower margins. Net loss was $26.8MM or $0.17 loss per share compared to net income of $177MM or $0.98 per share a year ago. Revenue declined 11.17% to $1.06Bil, while on a constant currency basis, revenue declined 10.6%.

$KORS {{ '2017-04-17T20:42:54+0000' | timeago}} • Announcement

Luxury fashion brand $KORS named Thomas Edwards, Jr. as EVP, CFO, COO and Treasurer effective immediately. Edwards is succeeding Joseph Parsons, who is retiring from the company. Parsons will remain with the company through Aug. 1, 2017 in his current role.

$KORS {{ '2017-02-07T14:12:08+0000' | timeago}} • Webcast

$KORS stated that in terms of acquisitions, the company's first capital allocation priority is to repurchase shares. If the right acquisition comes up, the company will consider it and if not then it will stay focused on what it is doing.

$KORS {{ '2017-02-07T13:48:06+0000' | timeago}} • Webcast

For FY17, $KORS' CapEx is now expected to be approx. $200MM and will focus on ongoing investments in global digital strategies and omni-channel capabilities. Looking into FY18, the company expects modest topline growth, driven by higher retail net sales. Additionally, $KORS expects the declines in the wholesale business to moderate.

$KORS {{ '2017-02-07T13:42:09+0000' | timeago}} • Webcast

During 3Q17, $KORS repurchased about 2.1MM shares totaling $100MM under the company's share repurchase program. Additionally, the company has another $250MM of availability remaining in its most recent $1Bil authorization.

$KORS {{ '2017-02-07T13:33:55+0000' | timeago}} • Webcast

In the wholesale business, $KORS' net sales declined 18% during 3Q17, while in the Americas sales declined 15%. Additionally, the company is reducing promotional activity across the retail and wholesale channels from Feb., which is expected to result in higher avg. unit retails.

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