Michael Kors Holdings (NYSE:KORS) announced that fiscal second-quarter net income more than tripled. The retailer said that it earned $97.8 million, or 49 cents per share, up from $31.6 million, or 22 cents per share, in the same period last year. Revenue increased by 74 percent to $532.9 million from $305.5 million. Analysts had expected earnings of 40 cents per share on $519.9 million in revenue.
Shares are higher by about nine tenths of a percent.
Last month, luxury goods rival Coach (NYSE:COH) reported sales of $1.16 billion for its first fiscal quarter versus $1.05 billion reported in the same period last year.
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