Michael Kors Raises Full Year Outlook - Quick Facts

(RTTNews) - Michael Kors Holdings Limited (KORS) announced, for fiscal 2018, the company expects total revenue to be approximately $4.66 billion, including between $225 million and $230 million of incremental Jimmy Choo revenue. Comparable sales for Michael Kors are expected to decline in the mid-single digits. The company expects earnings per share to be in the range of $4.40 to $4.45, with no incremental impact from Jimmy Choo.

For the fourth quarter of fiscal 2018, the company expects total revenue to be between $1.11 billion and $1.13 billion, including between $110 million and $115 million of incremental Jimmy Choo revenue. Comparable sales for Michael Kors are expected to decline in the low-single digits. The company expects earnings per share to be in the range of $0.50 to $0.55, including the dilution from Jimmy Choo of approximately $0.07.

Third-quarter adjusted earnings per share were $1.77, an increase of 7.9% compared to the prior year. Total revenue increased 6.5% to $1.44 billion, including a $114.7 million contribution from Jimmy Choo, which the company owned for two months of the quarter. On a constant currency basis, total revenue increased 4.6%.