On Thursday, Shares of Michael Kors Holdings Ltd (NYSE:KORS), gained 10.81% to $43.76.
Michael Kors Holdings Limited declared its financial results for the fiscal 2016 first quarter ended June 27, 2015.
For the first quarter ended June 27, 2015:
- Total revenue raised 7.3% to $986.0 million from $919.2 million in the first quarter of fiscal 2015. On a constant currency basis, total revenue raised 13.4%.
- Retail net sales raised 9.0% to $523.3 million driven by 107 net new store openings since the end of the first quarter of fiscal 2015 and e-commerce sales from our North American digital flagships, partially offset by a 9.5% decrease in comparable store sales. On a constant currency basis, retail net sales grew 16.0%, and comparable store sales reduced 5.0%. Wholesale net sales raised 4.2% to $424.0 million and on a constant currency basis, wholesale net sales grew 9.7%. Licensing revenue raised 20.5% to $38.7 million.
- Total revenue in North America raised 1.2% to $727.3 million on a stated basis and raised 1.9% on a constant currency basis. European revenue grew 16.9% to $216.8 million on a stated basis, and grew 42.2% on a constant currency basis. Revenue in Japan raised 32.7% to $19.6 million on a stated basis, and raised 57.4% on a constant currency basis.
- Gross profit raised 5.6% to $603.6 million, and as a percentage of total revenue was 61.2%. Gross profit margin was reduced by about 63 basis points due to the change in foreign currency exchange rates. This compares to 62.2% in the first quarter of fiscal 2015.
- Income from operations was $248.6 million, or 25.2% as a percentage of total revenue. This compares to $276.8 million, or 30.1% as a percentage of total revenue, for the first quarter of fiscal 2015.
- Net income was $174.4 million, or $0.87 per diluted share, based on a 29.4% tax rate and 200.1 million weighted average diluted shares outstanding, which comprised of an unfavorable impact related to foreign currency exchange rates of about $0.06 per share. Net income for the first quarter of fiscal 2015 was $187.7 million, or $0.91 per diluted share, based on a 32.0% tax rate and 207.2 million weighted average diluted shares outstanding.
- At June 27, 2015, the Company operated 550 retail stores, counting concessions, contrast to 443 retail stores, counting concessions, at the end of the same preceding-year period. The Company had 224 additional retail stores, counting concessions, operated through licensing partners. Counting licensed locations, there were 774 Michael Kors stores worldwide at the end of the first quarter of fiscal 2016.
Michael Kors Holdings Limited engages in the design, marketing, distribution, and retailing of branded women’s apparel and accessories, and men’s apparel. The company operates in three segments: Retail, Wholesale, and Licensing.
Shares of Hologic, Inc. (NASDAQ:HOLX), declined -4.40% to $40.42, during its last trading session.
Hologic, declared that the Company will present at the Canaccord Genuity Growth Conference in Boston on Wednesday, August 12 at 3:30 p.m. Eastern Time (ET) and the Morgan Stanley Global Healthcare Conference in New York on Wednesday, September 16, 2015 at 11:40 a.m. ET.
Hologic, Inc. develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States and internationally.
Finally, Sunoco LP (NYSE:SUN), ended its last trade with -4.78% loss, and closed at $36.25.
Energy Transfer Equity, declared a $0.04 enhance in its quarterly cash distribution to $0.53 per ETE common unit on a pre-split basis ($0.02 per ETE common unit to $0.265 on a post-split basis) for the second quarter ended June 30, 2015. Annualized, the enhance equates to $2.12 per ETE common unit on a pre-split basis and $1.06 per ETE Common unit on a post-split basis.
ETE formerly declared a two-for-one split (“Unit Split”) of the Partnership’s common units that is planned to be accomplished tomorrow. As a result of the Unit Split, the number of outstanding ETE common units will double. Therefore, the enhance in the quarterly distribution will be $0.02 to $0.265 per ETE common unit on a post-split basis. Since the record date for distributions is after the completion of the Unit Split, ETE unitholders will be paid the quarterly distribution on a post-split basis.
Sunoco LP engages in the wholesale distribution and retail sale of motor fuels primarily in Texas, New Mexico, Oklahoma, Louisiana, Kansas, Maryland, Virginia, Tennessee, Georgia, and Hawaii.
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