Photo Credit: jaimelondonboy
Michael Kors (KORS) Releasing: 08/08/17 BMO
The Estimize consensus calls for EPS of $0.63, one cent higher than the Wall Street’s consensus of $0.62. Currently, the Estimize community is looking for revenues of $920.33M, slightly higher than the Street’s expectation for $917.88M.
The Estimize community projected same store sales to go down by 9.71% and the projected YoY growth for same store sales to decrease by a whopping 31%. Furthermore, the stock’s EPS is projected to have a negative YoY growth of 28% and its revenue is also projected to decrease 7% YoY. Michael Kors Ltd. has been trying to get their act together to provide better fundamentals and one of its strategies has been acquiring luxury shoe designer, Jimmy Choo. Since the announcement, KORS has seen a 5% increase and Jimmy Choo’s London traded shares have spiked to 63%. Despite these strategic moves, the company has had lots of trouble lately. Although hitting a peak in February 2014, the shares have gone down roughly 62% and due to such a steep decline, it may be hard to make a comeback. The retail market, in general, has been having some trouble as many consumers no longer shop in stores and do most of their shopping online and sometimes on platforms such as PoshMark, Amazon, or eBay.
I am very interested in seeing how the changing retail market continues to have an impact on stocks such as Michael Kors and bigger department stores such as Nordstrom and Macy’s.
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