Michael Kors Q2 EPS Up; Stock Jumps

(RTTNews) - Michael Kors Holdings Limited (KORS), a global luxury lifestyle brand, said second-quarter net income was $193.1 million, or $1.01 per share, compared to $207.0 million, or $1.00 per share last year.

On average, 30 analysts polled by Thomson Reuters expected earnings of $0.89 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased 6.9 percent to $1.13 billion from $1.06 billion in the second quarter of fiscal 2015. On a constant currency basis, total revenue increased 12.3 percent. Analysts expected revenues of $1.08 billion.

Earnings per share are expected to be in the range of $1.44 to $1.48 for the third quarter of fiscal 2016. Total revenue is estimated to be in the range of $1.33 billion to $1.35 billion. Analysts look for earnings of $1.53 per share on revenues of $1.40 billion.

For fiscal 2016, earnings per share are expected to be in the range of $4.38 to $4.42, and the company expects total revenue to be in the range of $4.60 billion to $4.65 billion. Wall Street looks for earnings of $4.31 per share on revenues of $4.65 billion.

The stock jumped 7.3 percent in pre-market and was at $42.20.