NEW YORK, NY / ACCESSWIRE / November 8, 2018 / Shares Michael Kors dropped in Wednesday’s trading session and also hit a new low after reporting earnings. TJX shares saw some gains on no news from the Company other than the announcement that it will be reporting its Q3 FY19 results on November 20, 2018.
RDI Initiates Coverage on:
Michael Kors Holdings Limited
The TJX Companies, Inc.
Michael Kors Holdings Limited shares were down 14.62% on about 14.6 million shares traded on Wednesday. The high-end apparel and accessory company hit a new low of $47.47 yesterday after releasing a concerning second quarter financial report. Michael Kors reported adjusted non-GAAP earnings per share of $1.27 on revenue of $1.25 billion. While earnings per share beat the analyst estimate for $1.10, revenue trailed behind the $1.26 billion expectation. The company maintained its guidance for full-year fiscal 2019 revenue of roughly $5.125 billion. The sales miss came just weeks after the company announced its plans to acquire Versace for $2 billion. "The step back in their core fundamental Michael Kors business could not come at a worse time, as the company recently announced the acquisition of Versace — which many investors already had a problem with — and now Michael Kors carries an unfavorable trajectory right as they are about to layer in a deal that is planned to be high-single digit dilutive to year one,” wrote Wells Fargo analysts.
Access RDI’s Michael Kors Holdings Limited Research Report at:
Shares of TJX Companies, the parent company of TJ Maxx and Marshalls, saw gains of 1.19% on Wednesday. There was no significant news from the company, but it was revealed that TJX will be announcing its third quarter Fiscal 2019 sales and earnings results on Tuesday, November 20, 2018, before 9:30 a.m. ET. In the second quarter sales for the company jumped 11.6% to hit $9.3 billion. Analysts had been expecting $9 billion.
Access RDI’s The TJX Companies, Inc. Research Report at:
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
For any questions, inquiries, or comments reach out to us directly at:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.