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Michael Kors Q3 - Decelerating Comparable Sales Growth And Aggressive Promotion Remain Concerns

Michael Kors (K>ORS) announced its third quarter earnings for fiscal year 2015. The company was able to report top and bottom line growth on the back of new store openings, launch of its e-commerce website and better comparable sales. The margins were lower for the quarter and the company issued a weak guidance for the current quarter, which sent shares down by nearly 11% in pre-market trading following the announcement.

Third quarter recap

Michael Kors reported third quarter financial results for the quarter ended 27 December, 2014. Quarterly revenue grew by 30%, up from $1 billion in the year ago quarter to $1.26 billion in the third quarter of 2014. Retail sales revenue increased by 37% during the quarter, amounting of $689.4 million. The company was able to deliver growth in retail sales revenue due to the launch of its new e-commerce website, increase in store openings and also due… Read More …