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Michael Kors’s Guidance and the Resulting Stock Plunge

Michael Kors’s Guidance and the Resulting Stock Plunge

As we’ve discussed in this series, Michael Kors (KORS) beat market expectations for both its top and bottom lines during the fourth quarter. Around $570 million to $580 million is likely to come from the Jimmy Choo acquisition. Michael Kors’s comps are likely to stay flat, driving retail sales at a mid-single-digit rate.