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Michael Kors (KORS) Stock Slumps on Q1 Comparable-Store Sales, Downbeat Guidance

NEW YORK (TheStreet) -- Shares of Michael Kors (KORS) were sliding in pre-market trading on Wednesday after the company posted a larger-than-anticipated drop in comparable-store sales for the 2017 fiscal first quarter and gave a downbeat outlook.

Before today's opening bell, the luxury retailer said comparable-store sales fell 7.4% during the first quarter. Analysts had forecast a decrease of 4.7%, Reuters noted.

For the fiscal second quarter, the company sees earnings per share between 84 cents and 88 cents on...


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