NEW YORK, NY / ACCESSWIRE / August 9, 2017 / It was a good day for some fashion retailers on Tuesday. Michael Kors smashed in its first quarter earnings report and offered a lifted guidance that had traders cheering. Ralph Lauren also beat in its first quarter results and saw its shares soar into the green.

RDI Initiates Coverage on:

Michael Kors Holdings Limited
https://ub.rdinvesting.com/news/?ticker=KORS

Ralph Lauren Corporation
https://ub.rdinvesting.com/news/?ticker=RL

Michael Kors Holdings Limited's shares were gaining fast in Tuesday trading after the fashion luxury retail powerhouse announced better than expected fiscal first quarter 2018 results. It also lifted its outlook for the full-year. The company reported that revenue fell 3.9% to $952.4 million for the quarter ended July 1st. This was better than the $918.6 million in revenue that the Street expected, however. The retailer cited strong sales in China for the growth as it opened 67 stores in the country. EPS at $0.80 was also a decrease from $0.90 a year ago but was ahead of the company's own guidance of $0.60 - $0.64 and way ahead of the $0.62 that analysts had expected. For the full year, Michael Kors has upped its previous forecast of $4.25 billion for full year revenue to $4.275 billion. It increased its EPS forecast from $3.57 to $3.67 to a range of $3.62 to $3.72. The retailer recently purchased Jimmy Choo, which it expects to add $275 million in incremental revenue in the second half of the year as well as $570 to $580 million in revenue for next year. According to CEO John Idol, the purchase of Jimmy Choo will make Michael Kors into a "global luxury fashion group." Shares closed up 21.54% yesterday.

Access RDI's Michael Kors Holdings Limited Research Report at:
https://ub.rdinvesting.com/news/?ticker=KORS

Ralph Lauren Corporation's shares plowed ahead on Tuesday, closing the day up 13.28% on nearly 5 million shares traded. The stock was one of the biggest gainers on the NYSE after the company beat in its first quarter profits. The fashion retailer announced a profit of 72 cents per share for the period. Earnings adjusted for restructuring costs came out to $1.11 per share which was a lot higher than the 96 cents that the consensus had expected on Wall Street. Revenue for the period was $1.35 billion and barely beat the Wall Street estimate of $1.34 billion. Shares of Ralph Lauren have gone down 7.8% since last year but are down only 1.98% YTD.

Access RDI's Ralph Lauren Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=RL

Our Actionable Research on Michael Kors Holdings Limited (NYSE: KORS) and Ralph Lauren Corporation (NYSE: RL) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com