Michael Kors Holdings Ltd.'s ($62.77, +$5.77, +10.12%) fiscal third-quarter earnings surged as the high-end retailer posted sharply higher same-store sales and added new stores. Earnings and revenue beat expectations and Michael Kors raised its fiscal-year guidance.
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The luxury lifestyle brand said earnings for the fiscal third quarter ended in December surged 129% to 64 cents a share, sailing past views for 41 cents a share. Revenue leapt 70% to $636.8 million, well above the Street's forecast for $540.3 million.
Michael Kors has consistently topped sales and earnings forecasts since its December 2011 IPO.
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