Michael Kors Q2 Profit Climbs, Lifts FY15 Outlook - Quick Facts

(RTTNews) - Luxury goods retailer Michael Kors Holdings Ltd. (KORS) Tuesday reported second-quarter net income of $206.99 million or $1.00 per share, up from $145.81 million or $0.71 per share in the prior year.

On average, 23 analysts polled by Thomson Reuters expected the company to earn $0.89 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased 42.7% to $1.1 billion from $740.3 million in the same quarter last year. Net sales for the quarter grew to $1.01 billion from $707.44 million a year ago. Analysts estimated revenues of $978.56 million for the quarter.

Comparable store sales were up 16.4 percent.

Looking ahead, for the third quarter, the company expects earnings per share to be in the range of $1.31 to $1.34. Total revenues are expected to be between $1.27 billion and $1.30 billion. This assumes a low double digit comparable store sales increase.

Street analysts expect earnings of $1.34 per share, on revenues of $1.30 billion for the quarter.

For fiscal 2015, the firm now expects earnings per share to be in the range of $4.13 to $4.18, up from the prior outlook of $4.00 to $4.05 per share.

Total revenues are anticipated to be in the range of $4.3 billion to $4.4 billion, assuming a comparable store sales increase in the mid teens.

Analysts are looking for earnings of $4.07 per share, on revenues of $4.36 billion for the fiscal.

Earlier, the firm forecast revenues between $4.25 billion and $4.35 billion, and comparable store sales growth in the high teens.

The company's board has authorized a $1 billion share repurchase program.