Company Earnings Update 3 minutesRegister for Free AccessMichael Kors (KORS) Fiscal 4Q17 Results: Beats Expectations, but Guides Down for FY18 and Plans to Close Stores Coresight Research June 1, 2017 Executive Summary Michael Kors reported fiscal 4Q17 adjusted EPS of $0.73, down28.8% from $1.02 in the year-ago quarter, but ahead of the $0.70 consensus estimate. Revenues were $1.06 billion, down 11.2% year over year, but slightly ahead of the $1.05 billion consensus estimate. Comps declined by 14.1%, and were down 13.6% on a constant currency basis. As part of a retail fleet optimization, the company plans to close 100–125 full-price retail stores over the next two years. For FY18, the company guided for EPS of $3.57–$3.67 versus consensus of $3.94 and for revenues of $4.25 billion versus consensus of $4.37 billion. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Market Navigator: US Grocery Retailing—Exploring Growth, Inflation, Competition, Trends and StrategiesConsumers Report Financial Stability Entering the New Year: US Consumer Survey InsightsAugust 2024 US Retail Sales Outlook: Mid-Single-Digit Growth Expected Through the Rest of 2024Analyst Corner—Checking In on the Financial Health of the US Consumer, with John Mercer
