There was a lot of retail consternation over the holiday season, but Michael Kors wasn’t feeling it.The luxury retailer post better-than-expected results during the fiscal third quarter, which included the critical holiday shopping season, and issued strong guidance for the year.Michael Kors bag Shares of Michael Kors Holdings soared nearly 24 percent, reaching levels not seen in eight months.Almost all retailers that sell winter goods like boots have been hit hard by winter weather that is anything but frightening. Kors was not immune, but fortunately for the London accessory and clothing maker its fans just switched to its sneakers and other shoes.Small bags and accessories were also hot sellers.
Profit was $294.6 million, or $1.59 per share, in the quarter ended Dec. 26, compared with $303.7 million, or $1.48 per share, from the same period the year ago.And while overall profit declined, per-share earnings were 13 cents better than Wall Street had expected, according to a poll by Zacks Investment Research.It beat on revenue, too, which rose 6 percent to $1.4 billion.For the current quarter ending in March, Michael Kors expects revenue of between $1.13 billion and $1.15 billion.Michael Kors bag Analysts surveyed by Zacks had expected revenue of $1.16 billion.The company expects full-year earnings of $4.38 to $4.42 per share, with revenue expected to be $4.65 billion. Analysts expected earnings of $4.32 per share and revenue of $4.63 billion, according to FactSet.Shares of Michael Kors Holdings Ltd. rose $9.67 to $50.11 Tuesday.
After decades of snapping at the heels of rival Marks & Spencer, Next has overtaken the company on profits. And now the High Street giant appears to have come up with a foolproof plan for staying in the lead when it comes to womenswear.Britain’s biggest fashion retailer has an impressive line in designer copies selling for a fraction of the price of the big labels.So if you love the Mulberry Bayswater tote, but wince at the eye-watering price tag, you can pick up a looky-likey from Next. Or if you fancy yourself in a Victoria Beckham-style armband shift dress, but wouldn’t remortgage your home to pay for it, the Next version could be just the ticket.Michael Kors bag And it’s not just designer clothes that the company is expert at emulating. It also does its own versions of high-end homeware that won’t break the bank.Karen Kay, fashion and retail commentator, says one of Next’s greatest strengths is identifying catwalk trends that will appeal to its target market: mothers aged 30 and over and women starting out in their careers.Tags: Michael Kors bag