This morning, Michael Kors (NYSE:KORS) reported fiscal third quarter earnings of $229.6 million, or $1.11 per share, as revenue climbed to just over $1 billion. The company said sales at stores open at least a year grew by 27.8% worldwide and that licensing revenue increased by 59%. In the report, Michael Kors is guiding for fiscal fourth quarter earnings in the range of 63 cents to 65 cents per share with revenue in the range of $790 million to $800 million. On the news, shares of Michael Kors were sharply higher, gaining more than 18% this morning.
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