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Michael Kors Beats Expectations as Revenue Rises

Shoppers walk pass a Michael Kors Holdings Ltd. store in Mexico City in September.

Michael Kors Holdings Ltd. said revenue climbed in its latest quarter, helped by new store openings, and both its top and bottom lines topped Wall Street expectations.

Shares, which have dropped 48% so far this year, rose 4.5% premarket.

The handbag designer and fashion company also said for the third quarter it expects per-share earnings between $1.44 to $1.48 on revenue in the range of $1.33 billion to $1.35 billion. Analysts expect per-share earnings of $1.53 on $1.4 billion. Foreign currency is expected to impact profit by about $11 million and per-share earnings by about 6 cents.

For the...


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