Michael Kors (KORS) Q4 Earnings & Revenues Beat Estimates

Michael Kors Holdings LimitedKORS a global luxury lifestyle company, came out with fourth-quarter fiscal 2018 results, wherein adjusted earnings of 63 cents per share beat the Zacks Consensus Estimate of 60 cents. However bottom-line declined 13.7% from the prior-year quarter.

Further, management projects earnings in the range of 90-95 cents per share for first-quarter fiscal 2019, and between $4.65 to $4.75 for fiscal 2019. The current Zacks Consensus Estimate for the first quarter and fiscal 2019 stand at 89 cents and $4.78, respectively.

Earnings Estimate Revision : The Zacks Consensus Estimate for fiscal 2019 has increased by a penny in the past 30 days. In the trailing four quarters (excluding the quarter under review), the company outperformed the Zacks Consensus Estimate by an average of 32.7%.

Price, Consensus and EPS Surprise

Price, Consensus and EPS Surprise | Quote

Revenues : Michael Kors generated total revenue of $1,179.5 million that increased 10.8% year over year, and also came ahead of the Zacks Consensus Estimate of $1,144 million. On a constant currency basis, total revenue grew 7.2%.

Management now forecasts first-quarter fiscal 2019 revenue to be $1,135 million. For fiscal 2019, management anticipates total revenue to be $5.1 billion.

Zacks Rank : Currently, Michael Kors carries a Zacks Rank #2 (Buy), which is subject to change following the earnings announcement. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Stock Movement : Michael Kors' shares were down roughly 4% during pre-market trading hours following the company's quarterly results.

Check back later for our full write up on Michael Kors' earnings report!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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