KORS: Reports Q4 (Mar) earnings of $0.50 per share, $0.11 better than the Capital IQ Consensus Estimate of $0.39 (guidance $0.32-0.34); revenues rose 57.2% year/year to $597.2 mln vs the $548.69 mln consensus (guidance $515-525 mln). Retail net sales increased 58.8% to $272.7 million driven by a 36.7% increase in comparable store sales and 67 net new store openings since the end of the fourth quarter of fiscal 2012. Wholesale net sales increased 59.4% to $304.7 million and licensing revenue increased 15.7% to $19.8 million. Gross profit increased 62.6% to $356.2 million, and as a percentage of total revenue increased to 59.7% compared to 57.7% in the fourth quarter of fiscal 2012. Co issues in-line guidance for Q1, sees EPS of $0.46-0.48 vs. $0.46 Capital IQ Consensus Estimate; sees Q1 revs of $555-565 mln vs. $562 mln Capital IQ median estimate; comps up ~20%. Co issues guidance for FY14, sees EPS of $2.43-2.47 vs. $2.45 Capital IQ Consensus Estimate; sees FY14 revs of $2.675-2.75 vs. $2.81 bln Capital IQ Consensus; comps +15-20%. "Our robust fourth quarter results were driven by continued strength across all of our business segments and geographies. North American comparable store sales increased 35%, reflecting the increasing demand for our luxury brand, our exciting product assortment and our exceptional jet-set in-store experience. Sales in our North America wholesale segment increased 57%, reflecting comparable store sales growth as well as the continued conversion to shop-in-shops in department stores. In Europe, sales nearly doubled during the quarter, with continued expansion of brand awareness leading to 63% comparable store sales growth. Finally, in our licensing segment, revenue increased 16%, driven primarily by the ongoing strength in watches and eyewear. Overall, we believe that the Michael Kors luxury brand is ideally positioned within the global luxury lifestyle market and we look forward to continuing to advance on our long-term objectives in fiscal 2014 and beyond."
