Nov
26
2012
Record Quarterly Earnings for Kors
For a week now, analysts have been banking on the strong earnings of fashion conglomerate Michael Kors Holdings Ltd. after the company announced that it once again achieved a strong Q2 fiscal finish. Kors surpassed expectations by more than twenty percent in earnings, and has been surprising Wall Street for the past four quarters. The Zacks top performer has a 78.6% year-to-date average.
Second Quarter Earnings Looking Great
When compared to last year, Kors revenues are 74 percent higher or exactly $532.9 million. Sales simply went off the roof for all of the company's major departments and operations around the globe.
The company also saw an 80 percent rise in its gross profit, or $315.9 million in real terms. Add to that a gross margin with a double one-hundred-point increase or precisely 59.3 percent.
Kors Valuation
The Kors stock is presently selling at a P/E ratio of 31.9x which is significantly higher than its peer group average by 15.4x. And when it comes to price-to-book valuation, the stock is trending 13.8x better than its peer average.
Charted Earnings
The uphill climb of the Kors stock has been ongoing throughout most of the current year. Shares gain is just 1.4 percent shy of eighty. Also, for the past 200 days, the new stock has performed consistently over the $45 mark.
For the fiscal year, the S&P 500 has been no match to Kors. It is backed up by $9.69 billion in capital and is currently trading at a whopping 3,883K volume.
It was founded in 1981 with headquarters in Hong Kong. The Kors company is deep into the fashion business for both sexes. Michael Kors or Kors is into anything that has to do with fashion, and has realized equally strong earnings in its footwear and fragrance lines. Its chain of stores worldwide is in the high 300s and counting.