On Monday, Shares of Michael Kors Holdings Ltd (NYSE:KORS), dropped -2.34% to $47.10.
Michael Kors Holdings, declared its financial results for the fourth quarter and fiscal year ended March 28, 2015.
For the fourth quarter ended March 28, 2015:
- Total revenue raised 17.8% to $1.1 billion from $917.5 million in the fourth quarter of fiscal 2014. On a constant currency basis, total revenue raised 23.3%.
- Retail net sales raised 14.9% to $469.4 million driven by 121 net new store openings since the end of the fourth quarter of fiscal 2014 and e-commerce sales from the recently launched U.S. e-commerce site, partially offset by a 5.8% decrease in comparable store sales. On a constant currency basis, retail net sales grew 21.1%, and comparable store sales reduced 1.7%. Wholesale net sales raised 20.4% to $570.4 million and on a constant currency basis, wholesale net sales grew 25.8%. Licensing revenue raised 16.5% to $41.3 million.
- Total revenue in North America raised 13.7% to $840.5 million, with a 6.7% decrease in comparable store sales. On a constant currency basis, revenue in North America grew 14.3%, with a 5.8% decrease in comparable store sales. European revenue grew 33.5% to $219.8 million, with comparable store sales decreasing 5.6%. On a constant currency basis, revenue in Europe grew 59.5%, with an 11.0% enhance in comparable store sales. Revenue in Japan raised 42.7% to $19.2 million, with comparable store sales growth of 12.4%. On a constant currency basis, revenue in Japan grew 65.0%, with a 30.0% enhance in comparable store sales.
- Gross profit raised 14.8% to $630.8 million, and as a percentage of total revenue was 58.4%. Gross profit margin was reduced by about 30 basis points due to the change in foreign currency exchange rates. This compares to 59.9% in the fourth quarter of fiscal 2014.
- Income from operations was $256.2 million, or 23.7% as a percentage of total revenue. This compares to $245.9 million, or 26.8% as a percentage of total revenue, for the fourth quarter of fiscal 2014.
- Net income was $182.6 million, or $0.90 per diluted share, based on a 29.4% tax rate and 203.2 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 fourth quarter of fiscal 2014 was $161.0 million, or $0.78 per diluted share, based on a 34.6% tax rate and 207.0 million weighted average diluted shares outstanding.
- At March 28, 2015, the Company operated 526 retail stores, counting concessions, contrast to 405 retail stores, counting concessions, at the end of the same preceding-year period. The Company had 202 additional retail stores, counting concessions, operated through licensing partners. Counting licensed locations, there were 728 Michael Kors stores worldwide at the end of the fourth quarter of fiscal 2015.
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.
During late Afternoon trade, Shares of Southern Co (NYSE:SO), dipped -0.50% to $42.09.
For the fifth year in a row, Georgia Power is joining with other energy companies, auto manufacturers and Commissioner Tim Echols of the Georgia Public Service Commission (PSC) to support the Georgia Alternative Fuel Vehicle (AFV) Roadshow. The AFV Roadshow, kicking off recently in Gainesville, is an annual cross-state event focused on showcasing clean transportation options, counting electric vehicles (EVs). During this year’s roadshow, Georgia Power is highlighting its electric transportation program counting EV charger rebates for residential and business customers and new public charging infrastructure presently being installed across the state.
The Southern Company, together with its auxiliaries, operates as a public electric utility company. It is involved in the generation, transmission, and distribution of electricity through coal, nuclear, oil and gas, and hydro resources in the states of Alabama, Georgia, Florida, and Mississippi.
Shares of International Business Machines Corp. (NYSE:IBM), during its Monday’s trading session fell -0.44% to $166.26.
International Business Machines Corp., declared a major commitment to Apache Spark, potentially the most important new open source project in a decade that is being defined by data. At the core of this commitment, IBM plans to embed Spark into its industry-leading Analytics and Commerce platforms, and to offer Spark as a service on IBM Cloud. IBM will also put more than 3,500 IBM researchers and developers to work on Spark-related projects at more than a dozen labs worldwide; donate its breakthrough IBM SystemML machine learning technology to the Spark open source ecosystem; and educate more than one million data scientists and data engineers on Spark.
As data and analytics are embedded into the fabric of business and society –from popular apps to the Internet of Things (IoT) –Spark brings essential advances to large-scale data processing. First, it dramatically improves the performance of data dependent apps. Second, it radically simplifies the process of developing intelligent apps, which are fueled by data.
International Business Machines Corporation provides information technology (IT) products and services worldwide. The company’s Global Technology Services segment provides IT infrastructure and business process services, such as outsourcing, processing, integrated technology, cloud, and technology support.
Finally, Vical Incorporated (NASDAQ:VICL), lost -6.76% Monday.
Vical Incorporated, declared the completion of enrollment in a Phase 2 trial of its therapeutic cytomegalovirus (CMV) vaccine in solid organ transplant recipients. ASP0113 is an investigational vaccine candidate under development for the prevention of CMV disease and associated complications in transplant recipients. Vical licensed the vaccine, ASP0113, to Astellas Pharma Inc. (TOKYO:4503), which is conducting the Phase 2 trial and an ongoing pivotal Phase 3 trial in hematopoietic stem cell transplant recipients.
Enrollment in the Phase 2 trial was accomplished almost a year ahead of plan. A total of 150 kidney transplant recipients were enrolled, surpassing the original enrollment target of 140. The trial has enrolled subjects at about 80 centers in North America, Europe and Australia.
Vical Incorporated engages in the research and development of biopharmaceutical products based on its DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases.
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