Is Michael Kors Holdings' Growth Story Intact?http://www.fool.com/investing/general/2013/12/26/is-michael-kors-holdings-growth-story-intact.aspx Daniel James
December 26, 2013
The growth story of Michael Kors Holdings (NYSE: KORS) has been one of the most impressive in the fashion retail industry. It has consistently been delivering high double-digit same-store sales for some time now, easily outpacing competitors such as Coach (NYSE: COH) and Polo Ralph Lauren (NYSE: RL). Now, it turns out that the Hong-Kong based company is not entirely immune to the traffic disease affecting many fashion retailers. With growth expected to slow next year, what's in store for the luxury lifestyle brand?
Growth story intact?
The latest report once again knocked it out of the park. Second quarter EPS came in at $0.71, beating the consensus by $0.03. I'll let some of the other numbers speak for themselves. Total revenue increased by around 39%, on a 23% increase in same-store sales. Gross profit was up 42.4%, and net income rose to $148.5 million from $97.8 million a year ago.
CEO John Idol was clearly happy with the results, and especially pleased about the company's European performance. In a tough market, the company managed to increase sales b