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Michael Kors (KORS) Fiscal 1Q19 Results: Company Beats Expectations and Raises Guidance

Executive Summary

  • Michael Kors reported fiscal 1Q19 revenues of $1.20 billion, up 26.3% year over year and above the consensus estimate of $1.14 billion. Diluted EPS was $1.22, up 52.5% from the year-ago quarter and above the consensus estimate of $0.94.
  • Comparable sales increased 0.2%, with positive performance in the Americas and Asia, partially offset by declines in Europe.
  • Michael Kors raised its full-year earnings guidance per share by $0.25 to $4.90–$5.00. For the full year, the company expects total revenues to be $5.125 billion.

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