Michael Kors Holdings Limited (KORS) must have turned even
the most bearish investors around with its second quarter earnings (for the fiscal
year starting April 1). Its standout performance during the quarter was better
than consensus estimates as well as its own guidance. Kors’ stock price rose 6%
to $79 following the announcement, reaffirming Bidness Etc’s bullish stance on
the stock.
The luxury lifestyle brand rang up net sales of $740 million
for the quarter, compared to $532.9 million a year ago. The company has
reported per share earnings of $0.71, higher than $0.49 in the year-earlier
quarter.
Investors should bear in mind that Michael Kors is usually conservative
in its guidance, so its stock price has risen in the past despite lower
EPS projections. Read more.
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