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http://phx.corporate-ir.net/phoenix.zhtml?c=235654&p=iro...

For the fourth quarter ended March 30, 2013:

Total revenue increased 57.1% to $597.2 million from $380.0 million in the fourth quarter of fiscal 2012.

Retail net sales increased 58.8% to $272.7 million driven by a 36.7% increase in comparable store sales and 67 net new store openings since the end of the fourth quarter of fiscal 2012. Wholesale net sales increased 59.4% to $304.7 million and licensing revenue increased 15.7% to $19.8 million.

Gross profit increased 62.6% to $356.2 million, and as a percentage of total revenue increased to 59.7% compared to 57.7% in the fourth quarter of fiscal 2012.

Income from operations was $155.3 million and as a percentage of total revenue was 26.0%. For the fourth quarter of fiscal 2012, income from operations was $78.8 million and included a $2.0 million reimbursement of professional fees associated with the Company’s initial public offering (“IPO”) in December 2011. Excluding this credit, operating income for the fourth quarter of fiscal 2012 was $76.8 million or 20.2% as a percentage of total revenue.

Net income was $101.1 million, or $0.50 per diluted share, based on 203.8 million weighted average diluted shares outstanding. Net income for the fourth quarter of fiscal 2012 was $43.6 million, or $0.22 per diluted share, based on 196.9 million weighted average diluted shares outstanding. Excluding the aforementioned credit, net income for the fourth quarter of fiscal 2012 was $41.6 million, or $0.21 per diluted share.

At March 30, 2013, the Company operated 304 retail stores, including concessions, compared to 237 retail stores, including concessions, at the end of the same prior-year period. The Company had 96 additional retail stores, including concessions, operated through licensing partners. Including licensed locations, there were 400 Michael Kors stores worldwide at the end of the fourth quarter of fiscal 2013.

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Outlook

For the first quarter of fiscal 2014, the Company expects total revenue to be in the range of $555 million to $565 million. This assumes a comparable store sales increase of approximately 20%. Diluted earnings per share are expected to be in the range of $0.46 to $0.48 for the first quarter of fiscal 2014. This assumes 204.0 million diluted weighted average shares outstanding and a 36% tax rate.

For fiscal 2014, the Company expects total revenue to be in the range of $2.65 billion to $2.75 billion. This assumes a comparable store sales increase in the range of 15% to 20%. Diluted earnings per share are expected to be in the range of $2.43 to $2.47 for fiscal 2014. This assumes 204.8 million diluted weighted average shares outstanding and a 36% tax rate...........................


Should be able to beat their "plan".
JT
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