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Michael Kors' Blowout Quarter Inspires Buys Across Retail

A blowout quarter and sunny outlook from Michael Kors Holdings Ltd. (KORS) spread good cheer across the retail sector on Tuesday, Aug. 8.

The luxury accessories retailer posted a narrower decline in earnings and same-store sales than expected. First-quarter earnings of 80 cents a share fell by 3 cents from the year-ago quarter, though came in higher than an estimate 62 cents. Revenue declined 3.6% to $952.4 million, exceeding consensus estimates of $918.7 million. Same-store sales dropped 5.9%, narrower than projections of a 9.2% fall.

For the second quarter, Michael Kors anticipates earnings between 80 cents and 84...


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