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Kors Jumps 10% As Q1, Full Year Forecast Beat Expectations

Michael Korsa>trong> (KORS) is up more than 10% in Thursday morning trading, as its better-than expected first quarter overshadowed mixed guidance.

Bloomberg News

Kors said it earned 87 cents a share on revenue that climbed 11.2% to $986 million. Analysts were expecting earnings per share of 75 cents on revenue of $944.3 million.

For the current quarter, it expects to earn between 86 cents and 90 cents on revenue between $1.06 billion and $1.08 billion—both metrics are below analysts’ forecasts of 98 cents in per-share earnings and revenue of $1.11 billion.

However, for the full year, Kors said it will earn between $4.40 and $4.50 a share, well ahead of the $4.26 consensus. It sees revenue between $4.7 billion and $4.8 billion...