trending Market Intelligence /marketintelligence/en/news-insights/trending/d-nb4_aUI5Jgm2ITzMelaw2 content esgSubNav
In This List

Michael Kors fiscal Q2 profit falls 10.7% YOY


Gold - Geopolitical tensions and inflation remain key drivers


Lithium and Cobalt - Softer demand weighs on prices


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


Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds

Michael Kors fiscal Q2 profit falls 10.7% YOY

Michael Kors Holdings Ltd. said its normalized net income for the fiscal second quarter ended Sept. 26 amounted to 89 cents per share, compared with the S&P Capital IQ consensus estimate of 89 cents per share.

EPS decreased year over year from 92 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $169.8 million, a decrease of 10.7% from $190.1 million in the year-earlier period.

The normalized profit margin declined to 15.0% from 18.0% in the year-earlier period.

Total revenue increased 6.9% on an annual basis to $1.13 billion from $1.06 billion, and total operating expenses rose 14.1% on an annual basis to $856.9 million from $751.0 million.

Reported net income fell 6.7% on an annual basis to $193.4 million, or $1.01 per share, from $207.4 million, or $1 per share.