Michael Kors Shares Stumble as Company's Gross Margins Fray

Now watching

Next video starts in : 7 Play

Michael Kors Shares Stumble as Company's Gross Margins Fray

Michael Kors Shares Stumble as Company's Gross Margins Fray
Replay video
Up next

How Lindsey Graham would fix Washington: Talk less, drink more

Unlock your personal NFL Now stream by signing in to NFL.com

Michael Kors Shares Stumble as Company's Gross Margins Fray

by TheStreet.com Videos 1:00 mins

Shares of Michael Kors stumbled on Thursday making it TheStreet's Move of the Day. The company known for women's and men's fashion apparel reported 2014 fiscal-fourth quarter earnings the beat Wall Street expectations on sales and earnings per share, but the company disappointed investors when it revealed gross margin declined to 59.9% from 60.1% the same time a year ago. When asked on the earnings call what Kors forecasts for its full year margins, CEO John Idol responded: "We will be having some normalization, we believe, and hence the slight decrease despite the positive trends that I've talked about, in particular the growth of Europe, and then that's going to be consistent with the full year."

View Comments (0)