Michael Kors Q4 Profit Rises; Issues Q1 Outlook - Quick Facts

(RTTNews) - Luxury goods retailer Michael Kors Holdings Ltd. (KORS) reported fourth-quarter net income of $182.6 million or $0.90 per share, up from $161.0 million or $0.78 per share in the prior-year quarter.

On average, 28 analysts polled by Thomson Reuters expected the company to earn $0.91 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter grew 17.8 percent to $1.08 billion from $917.45 million in the comparable quarter last year. Net sales for the quarter rose to $1.04 billion from $882.04 million a year ago. Analysts estimated revenues of $1.08 billion for the quarter.

Looking ahead to the first quarter, Michael Kors expects earnings per share in a range of $0.74 to $0.78 and total revenue of $930 million to $950 million. The company expects a low double digit comparable store sales decrease on a reported basis and a mid-single digit decrease on a constant currency basis. Street expects earnings of $1.03 per share for the quarter on revenues of $1.09 billion.

For fiscal 2016, the company forecasts earnings per share in a range of $4.40 to $4.50 and total revenue to be about $4.7 billion to $4.8 billion. The Company expects flat comparable store sales on a reported basis, and a low single digit comparable store sales increase on a constant currency basis.

Analysts are looking for earnings of $4.70 per share for the year on revenues of $5.05 billion for the year.