Get Stock Quote Here Michael Kors Holdings (KORS) is an American luxury fashion company established in 1981 by designer Michael Kors. The company is known for handbags and accessories. As of 2015, the MK Holdings has more than 550 stores and over 1500 in-store boutiques in various countries. Though the brand began in 1981, it wasn't until 2006 where they opened their first retail stores. Some main compteitors of the brand include Coach, Kate Spade, and Louis Vuitton. Michael Kors has been a popular fashion trend among teen girls, according to a 2015 survey.
Reported before open today (6/1/16) Earnings: EPS $0.98 Revenue $1.199B Estimates: EPS $0.96 Revenue $1.150B Up 6.60% today
KORS looking good! This would have been a great buy yesterday, I feel like I missed it! Hopefully we get a bit of a pull back soon.
Analyst Upgrade/Downgrade Update Brokerage firm: Morgan Stanley Change: Downgrade Previous Rating: Overweight Current Rating: Equal Weight Previous Price Target: N/A Current Price Target: N/A
Michael Kors ( KORS) revenue declined 3.2% year-over-year to $1.35 billion, missing analysts' estimates of $1.36 billion. Same-store sales fell 6.9%, while analysts penciled in a decrease of 5.2%. Diluted earnings climbed to $1.64 a share from $1.59 a year ago, slightly above analysts' estimates of $1.63 a share.
My resident expert on clothing retail says that mid range brands like KORS are going to suffer. They have a mid range price point which tends to fall away unless marketing is continually strong.
Big gap down this morning , news: One of the biggest victims of the collapse of the luxury retail industry has been Michael Kors Holdings (NYSE:KORS). Recently, the retailer has struggled to keep declines in its revenue manageable, but a tough environment in the shopping world, especially in the U.S., has made things a lot more difficult for Kors. Coming into Wednesday's fiscal fourth-quarter financial report, Kors investors had no illusions that the quarter would be anything but ugly. But the strategic moves that Kors announced in response to tough conditions did come as a shock to some of those following the stock. Let's look more closely at Michael Kors to see how it did and what to expect in the future.
