Michael Kors Holdings (KORS) reported fourth quarter EPS of $0.90 Wednesday morning, compared to $0.78 in the previous year. Analysts expected EPS of $0.91. The company expects to report first quarter EPS of $0.74 to $0.78, which is below the consensus estimate of $1.03.
Michael Kors gapped open sharply lower Wednesday and declined throughout the first half of the session. The stock closed down by 14.66 at $45.93 on the highest volume of the year. Michael Kors plummeted to a new low for the year.
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