Michael Kors Raises Full Year Outlook - Quick Facts

(RTTNews) - Michael Kors Holdings Limited (KORS) announced, for fiscal 2018, the company expects total revenue to be approximately $4.59 billion, including between $215 million and $225 million of incremental Jimmy Choo revenue. Comparable sales for the Michael Kors brand are expected to decline in the mid-single digits. Earnings per share are expected to be in the range of $3.85 to $3.95, including the anticipated dilution from Jimmy Choo of approximately $0.08. Previously, the company projected fiscal 2018 total revenue of approximately $4.275 billion; and earnings per share in the range of $3.62 to $3.72.

For the third quarter, the company expects total revenue to be between $1.355 billion and $1.385 billion, including between $105 million and $110 million of incremental Jimmy Choo revenue. Comparable sales for the Michael Kors brand are expected to decline in the high-single digits.

Second-quarter earnings per share were $1.33 on an adjusted basis, an increase of 37% versus prior year. Total revenue increased 5.4% to $1.15 billion from $1.09 billion in the second quarter of fiscal 2017. On a constant currency basis, total revenue increased 4.4%.