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Update: Michael Kors Still A Buy

Introduction

I previously wrote about Michael Kors (K>ORS) in this article, where I laid out a bullish investing thesis on the company for 2015 and beyond. Today, KORS reported its Q3FY15 earnings, showing strong top and bottom line growth. Despite the growth, the market remains uncertain about the company. A lowering in next quarter's guidance, coupled with single-digit comp growth, pushed the stock down as much as 8% pre market. As I write this, the stock has gained some ground and is now only down about 1%. The earnings report, and especially the market reaction, has reinforced my belief that KORS is undervalued, and I believe that investors can capitalize on the market's uncertainty about the company buying up shares now. All information in this update is taken from the earnings press release and the conference call transcript.

Earnings Numbers - The Good, The Bad, and The UglyRead More …