Why Michael Kors Holdings Ltd Stock Popped Today

Shares of Michael Kors Holdings Ltd (NYSE: KORS) were looking attractive today after the fashion house posted better results than expected in its second-quarter earnings report and raised its outlook following the closing of its Jimmy Choo acquisition last week. As of 11:25 a.m. EST, the stock was up 13.7%.

Image source: Michael Kors.

The luxury fashion brand said total revenue increased 5.4% in the quarter to $1.15 billion, which easily beat estimates at $1.04 billion. Overall retail sales were up 8% due to new store openings and an increase in e-commerce in Europe and Asia. Comparable sales declined 1.8%, but that was an improvement from a 5.9% drop in in the first quarter.

Source: Fool.com