trending Market Intelligence /marketintelligence/en/news-insights/trending/-SrqHFNc3D7CFUP1vfR8bQ2 content esgSubNav
In This List

Michael Kors fiscal Q1 profit falls 10.5% YOY

Podcast

Street Talk | Episode 94: Recessionary fears in '22 overblown, Fed could overtighten

Blog

Optimism abounds in Indian online video industry

Blog

2022 broadband forecast shifts to market share battle with intense competition

Blog

Expand Your Perspective: Innovation


Michael Kors fiscal Q1 profit falls 10.5% YOY

Michael Kors Holdings Ltd. said its normalized net income for the fiscal first quarter ended June 27 was 77 cents per share, compared with the S&P Capital IQ consensus estimate of 75 cents per share.

EPS decreased 7.3% year over year from 83 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $154.4 million, a decrease of 10.5% from $172.5 million in the prior-year period.

The normalized profit margin dropped to 15.7% from 18.8% in the year-earlier period.

Total revenue climbed 7.3% on an annual basis to $986.0 million from $919.2 million, and total operating expenses climbed 14.8% on an annual basis to $737.4 million from $642.4 million.

Reported net income fell 7.7% on an annual basis to $174.0 million, or 87 cents per share, from $188.5 million, or 91 cents per share.