Michael Kors Beats Expectations as Revenue Rises

Michael Kors Holdings Ltd (NASDAQ:KORS) issued an update on its FY16 earnings guidance on Wednesday morning.

Net Income: Profits for the second quarter, ended September 26, 2015, fell 6.7 percent, to $193.1 million, from the comparable quarter, when profits were $207 million.

Michael Kors Holdings Limited (NYSE:KORS) shares will open today at 42.59 after closing yesterday at 39.32. The stock's 50-day moving average is $41.42 and its 200-day moving average is $46.54.

The average estimate among 126 Estimize users was for earnings of $0.92 per share and revenue of $1.08 billion.

Coach is attempting a turnaround, and though earnings in its first fiscal quarter reported last week were slightly better than expected and an improvement over the prior five quarters, they were still down 23% from a year ago.

On a per-share basis, earnings rose to $1.01 from $1.00.

Its revenue increased 6.9 percent to $1.13 billion. During the same period in the previous year, the firm posted $1.00 EPS. Revenue in Japan jumped 36.1 percent to $22.4 million. Let's look more closely at the latest from Michael Kors and whether investors can see this report as the beginning of the end for its long slump.

Canaccord Genuity restated their hold rating on shares of Michael Kors Holdings (NASDAQ:KORS) in a research report released on Tuesday, Market Beat Ratings reports.

Michael Kors Holdings Limited (NYSE:KORS): On Monday heightened volatility was witnessed in Michael Kors Holdings Limited (NYSE:KORS) which led to swings in the share price. (MRK) is trading at $54.920, with a weekly performance of 3.370% and gross margin of 63.00%. Mizuho reduced their price objective on shares of Michael Kors Holdings from $50.00 to $45.00 and set a neutral rating on the stock in a research note on Friday, July 31st. The rating is an average of the various different ratings given by analysts and brokers to Michael Kors Holdings Limited, and then averaged into one rating by a team of analysts at Zacks in Chicago, Illinois.

Several other equities research analysts have also weighed in on KORS. The company now has a consensus rating of Hold and a consensus price target of $51.76. The Company manages its business in three segments namely Licensing, Wholesale and Retail. Two primary collections are offered by the Company specifically the Michael Kors high-end group and the MICHAEL Michael Kors reachable luxury group. The Business also offers the MICHAEL Michael Kors selection as well as two ranges offering attire, footwear and accessories namely the Michael Kors selection. As of March 30, 2013, its wholesale segment included wholesale sales through approximately 2,215 department store and specialty store doors in North America and wholesale sales through approximately 1,034 department store and specialty store doors internationally.