The Motley Fool Discussion Boards
Stocks M / Michael Kors Holdings
|Subject: Excellent KORS 3Q 2012 earnings report||Date: 2/15/2012 12:20 PM|
|Author: 3Fairfield||Number: 2 of 119|
KORS stock is up 100% since IPO on 12/16/2012 two months ago. Management projects same store growth in double digits; and domestic growth, as well as growth in Europe and Asia, as they continue to open stores in all three regions. In addition to designer and sports wear, other new growth areas for KORS in 2012 will be featured in their "shop in shop" expansion focusing on accessories, watches (by Fossil) and costume jewelry, along with ready to wear. They see lots of opportunity there.
This could be an exciting retail stock to follow in 2012.
John Idol, KORS Chairman was optimistic when he reported 2/14/2012 on 3Q work well done (post 12/16/2012 IPO):
“We are pleased with our third quarter sales and earnings growth. Our results were driven by strong performance across each of our retail, wholesale and licensing segments. Our North American comparable store sales growth was 38.0% over the third quarter of last year.
These results reflect the strong demand for the Michael Kors luxury brand, our exciting assortment of fashion merchandise and our exceptional jet-set in-store experience. Along with sustaining strong comparable store sales results in North America, we also delivered significant growth in our wholesale segment.
In Europe, revenues tripled in the third quarter as a result of a 34.4% comparable store sales increase over last year, in addition to strong performance in the wholesale operations. In Japan, we are cautiously encouraged by our results for this business which is in the start-up phase. Licensing revenue grew 44.0% due to strong sales of our products during the holiday season led by the Michael Kors watch line. We are uniquely positioned to continue to build our global, luxury lifestyle brand and we have tremendous opportunity for growth.”
The full story with lots of detail is available on the MK website Investors Webcast for 3Q: