Michael Kors tanks after missing on sales and seeing comparable sales down in low-single digits (KORS)

pulse

November 7, 2018 2:54 PM

Michael Kors tumbled 11% before Wednesday's opening bell after the company missed on revenue and said it sees comparable sales in low-single digits.

Michael Kors fashion show

Its same-store sales dropped 2.1%, mostly due to a decline in the European market.
The company boosted its earnings guidance but said it expects its full-year same-store sales to decline in the low-single digits.

tumbled 11% before Wednesday's opening bell after the retailer reported disappointing second-quarter sales, and said its full-year same-store sales will decline in the low-single digits.

The fashion group said it generated $1.25 billion sales, missing the $1.26 billion that was expected by analysts, according to Bloomberg data. Meanwhile, its same-

Its bottom line came at $1.27 adjusted earnings per share, beating the $1.10 that was expected by Wall Street.