Monday , January 24 2022

Michael Kors Holdings Limited: Michael Kors Holdings Limited announces the results of the fiscal quarter last year



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The results of the second quarter exceed expectations

Jimmy Choo's results are better than expected

Increase total revenue per year for an action from $ 4.95 to $ 5.05 from $ 4.90 to $ 5.00

LONDON – Michael Kors Holdings Limited (NYSE: KORS), a world luxury fashion group, today announced its financial results for the fiscal year 2019 on September 29, 2018.

This press release contains multimedia. View the full version here: https://www.businesswire.com/news/home/20181107005295/en/

MICHAEL KORS (Photo: Business Solution)

Second fiscal quarter 2019 Highlights

  • It gave a larger gross margin than expected, an operating margin and earnings per share

  • Revenue and comparable sales of stores, according to expectations

  • Michael Kors's revenue declined by 0.8%, according to expectations

    • Comparable store sales fell by one figure, according to expectations

    • Wholesale sales have exceeded expectations, reflecting the strength in America

  • Jimmy Choo earned better revenue than anticipated, due to shoe force

John D. Idol, president and CEO of the company, said: "We are delighted to report results that have exceeded our expectations again and increase our fiscal stance in 2019 EPS at a scale of $ 4.95-5.05, reflecting the increase in the figure As we enter the second half of the fiscal year 2019, we look forward to welcoming Versace to our group. With the acquisition of Versace, we built one of the most important luxury groups fashion in the world in just a year, setting the scene for accelerated revenue growth and earnings. This is a remarkable and historic moment for our company and we look forward to completing this transformation acquisition in the coming months. "

Fiscal Quarter 2019 Results

Financial results and non-GAAP reconciliation

The Company's results are reported in this press release in accordance with generally accepted US accounting principles ("US GAAP") and on a non-GAAP adjusted basis. A reconciliation of GAAP with non-GAAP financial information is provided at the end of this press release.

Overview of MKHL Quarterly Fiscal Results 2019:

  • Total revenue rose 9.3 percent to $ 1.25 billion, including a $ 116.7 million contribution from Jimmy Choo.

  • Gross profit was $ 763.1 million, gross margin was 60.9%, versus $ 690.8 million, and 60.2% last year. Gross adjusted earnings were $ 765.4 million, and the adjusted gross margin was 61.0% versus $ 690.8 million and 60.2% in the previous year.

  • Operating income was $ 189.4 million, and the operating margin was 15.1% versus $ 199.1 million and 17.4% in the previous year. Revenue adjusted for operations was $ 216.9 million, and the operating margin was 17.3%, compared to $ 237.4 million and 20.7% in the previous year.

  • Net income was $ 137.6 million, or $ 0.91 per diluted share, compared to $ 202.9 million, or $ 1.32 diluted in the previous year. Net adjusted revenue was $ 192.5 million, or $ 1.27 per diluted share, compared to $ 204.5 million, or $ 1.33 diluted diluted share in the previous year.

Michael Kors Segments Former fiscal quarter 2019 Results:

  • Michael Kors Revenue in the $ 643.9 million retail trade was roughly in comparison with the previous year. Comparable store sales fell 2.1%, which was in line with expectations. On a consistent basis, sales of comparable stores decreased by 1.3%.

  • Michael Kors's retail sales revenue was $ 67.9 million, and the operating margin was 10.5%, versus $ 69.0 million and 10.7% in the previous year. The adjusted operating profit was $ 79.6 million, while the adjusted operating margin was 12.4% versus $ 99.2 million and 15.4% in the previous year.

  • Michael Kors's wholesale revenue fell 1.3 percent to $ 457.8 million compared to the previous year.

  • Michael Kors Wholesale income was $ 130.1 million, and the operating margin was 28.4%, compared to $ 119.6 million and 25.8% in the previous year. On an adjusted basis, operating income was $ 134.2 million, while the adjusted operating margin was 29.3% versus $ 126.5 million and 27.3% in the previous year.

  • Michael Kors's licensing income dropped 6.8 percent to $ 35.4 million compared with the previous year.

  • Michael Kors Licensed operating income was $ 9.8 million, and the operating margin was 27.7%, versus $ 10.5 million and 27.6% in the previous year. On an adjusted basis, the operating income was $ 10.5 million, and the operating margin was 29.7%, compared to $ 11.7 million and 30.8% in the previous year.

  • The inventory for the Michael Kors brand on September 29, 2018 was $ 619.7 million, down 11% from the previous year.

Jimmy Choo Second Fiscal Quarter 2019 Results:

  • Jimmy Choo's revenue was $ 116.7 million. The company acquired Jimmy Choo on November 1, 2017, and compared to Jimmy Choo's independent earnings from the previous year, revenue rose two-fold.

  • Jimmy Choo's operating loss was $ 18.4 million, and adjusted losses were $ 7.4 million.

perspective

The company has raised its $ 0.05 to $ 4.95 earnings per share to $ 5.05, reflecting better performance than expected in the second quarter for both Michael Kors and Jimmy Choo.

For the full year, the company continues to expect a total revenue of approximately $ 5,255 billion, including Jimmy Choo's incremental revenue from $ 580 million to $ 590 million. It is estimated that similar store sales for Michael Kors will drop in small numbers, primarily due to the unfavorable impact of the coin. The company issued operational margin instructions at about 18.2%. Diluted earnings per share are expected to be between $ 4.95 and $ 5.05. The company continues to expect Jimmy Choo's EPS dilution from $ 0.05 to a flat. Debt accounts per share represent approximately 152 million diluted weighted average shares and a tax rate of approximately 15.5%.

For the third quarter of the fiscal year 2019, the Company expects a total revenue of about $ 1.46 billion, including $ 165 million in revenue from Jimmy Choo. The company expects retail sales revenue for the third quarter for Michael Kors to rise to low low figures. It is estimated that comparable sales of shops will be reduced to small numbers, primarily due to the unfavorable impact of foreign currency. The company expects wholesale revenues to drop in high single figures and license revenues fall in the middle of teenage years. The operating margin is expected to be about 20.8%. Diluted earnings per share are expected to range from $ 1.52 to $ 1.57, which includes $ 0.04 to $ 0.06 from Jimmy Choo. The earnings per share has approximately 152 million diluted weighted average shares and a tax rate of approximately 20%.

Information about conference calls

A conference call to discuss the results of the second quarter is scheduled for today, November 7, 2018, at 8:30 a.m. ET. A live broadcast of the conference will be available on the Investor Relations Web site, www.investors.michaelkors.com. In addition, a resume will be available shortly after the call and will remain available until November 15, 2018. To access the resumption of the phone, listeners should dial 1-844-512-2921 or 1-412-317 -6671 for callers. The resume access code is 5309233. A resume of the webcast will also be available within two hours of the end of the call and will remain on the site for 90 days.

Use non-GAAP financial measures

The constant effects of the currency are non-GAAP financial measures that are provided to supplement our reported operating results to facilitate the comparison of operating results and trends in our business, excluding the effects of exchange rate fluctuations. Because we are a global company, exchange rates can have a significant effect on the reported results. We calculate the constant currency measures and the associated currency impact, translating the amounts reported in current year into comparable amounts using the annual exchange rates for each currency. All the constant currency performance measures discussed below should be considered as a supplement and not in lieu of our US GAAP operational performance measures. In addition, this version of earnings includes certain non-GAAP financial measures relating to certain unique costs associated with the acquisition of Jimmy Choo and Versace's acquisition agreement and the cost of restructuring and cashless settlement mainly associated with retail outlets that do not have high performance. The company uses non-GAAP financial measures, among others, to assess its operational performance and to represent how the company operates and sees its business. The Company considers that the exclusion of non-recurring items helps management and investors compare operational performance on the basis of its ongoing operations. While the Company considers that non-GAAP measures are additional measures useful in analyzing its results, they do not intend to replace and replace any amount disclosed in its consolidated financial statements prepared under US GAAP and may differ from non-GAAP measures reported by other companies.

About Michael Kors Holdings Limited

Michael Kors Holdings Limited is a global luxury fashion group consisting of iconic brands that are industry leaders in design, style and craftsmanship. Its brands cover the full range of luxury fashion categories, including women's and men's accessories, footwear and clothing, as well as carrier technology, watches, jewelry, glasses and a full range of perfume products. The purpose of the Company is to continue to expand the global reach of its brands while ensuring the maintenance of independence and exclusive DNA. Michael Kors Holdings Limited is listed publicly on the New York Stock Exchange under the name KORS. As announced earlier, in connection with the company's closing of Versace's acquisition, expected to take place in the company's fourth fiscal quarter, the Company will re-name Capri Holdings Limited (NYSE: CPRI).

Regarding previous statements

This press release contains statements that are, or can be considered to be, forward-looking statements. The forward-looking statements are prospective in nature and are not based on historical facts but rather on the current expectations and forecasts of Michael Kors Holdings Limited ("Company") management of future events and are therefore subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by forward-looking statements. All statements other than the statements of historical facts included in this press release may be forward-looking statements. Without being limited to any statement preceded or followed by, or which includes the words "targets", "plans", "believe", "expect", "goals", "intends", " anticipate "," estimates "," synergy "," cost savings "," projects "," objective "," strategy "," budget ", the words or terms of a similar substance or its negative, are forward-looking statements. include statements regarding the following: (i) the expected effects of Versace's acquisition of the Company, (ii) the expected schedule and purpose of the Versace acquisition, (iii) future capital expenses, expenses, income, income, economic performance, indebtedness, (iv) business and management strategies and the expansion and growth of Versace's company and its activities, and the benefits accruing from the acquisition, and (v) the effects of government regulation on the Company's business or Versace.These forward-looking statements are not guarantees for future financial performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect the expected results and are based on certain key assumptions. Many risks, uncertainties and other factors may cause actual results to differ materially from those projected or implicit in any forward-looking statements. These risks, uncertainties and other factors include the satisfaction of the Versace acquisition, the completion of Versace's acquisition, the Company's ability to successfully integrate businesses and achieve the anticipated benefits of Versace's acquisition; the risk of disrupting the business or Versace company; the negative effects of the announcement of the proposed Versace acquisition or the consumption of the proposed acquisition at the market price of the ordinary shares of the Company and its operating results; significant transaction costs; unknown debts; the risk of litigation and / or regulatory actions related to the proposed Versace acquisition; demand fluctuations for Company and Versace products; future levels of indebtedness; future credit availability; the timing and scope of future takeover actions that may be suspended at any time due to market conditions and the level of other cash investment and use activities, including in connection with the ongoing acquisition of Versace; changes in consumer traffic and in retail trends; loss of market share and competition in industry; capital market fluctuations; fluctuations in interest rates and exchange rates; the occurrence of unforeseen disasters or catastrophes; political or economic instability in major markets; negative outcomes in the dispute; and the general, local and global economic, political, business and market conditions as well as those risks presented in the Company's reports from time to time with the US Securities and Exchange Commission, including the company's annual report on Form 10 – K for the fiscal year ended March 31, 2018 (file No 001-35368). Other unknown or unpredictable factors could cause actual results to differ materially from those in forward-looking statements. Such forward-looking statements should therefore be interpreted in the light of such factors. Unless otherwise provided by the applicable law, the Company does not provide any representations, assurances, or warranties that the occurrence of events expressed or implied in any forward-looking statements in this press release will actually occur. Because of such uncertainties and risks, readers are cautioned not to rely unreasonably on such forward-looking statements. Any subsequent oral or written statement that may be attributed to the Company is expressly fully qualified by the above warning statement. The Company disclaims any obligation to update or revise any future or other statements contained in this document other than in accordance with legal and regulatory obligations.

SCHEME 1

MICHAEL KORS HOLDINGS LIMITED AND SUBSIDIARIES
DECLARATIONS OF CONSOLIDATED CONSOLIDATED OPERATIONS
(In millions, excluding share and share data)
(Inaudible)

Three months off

Six months have ended

September 29,
2018

September 30th,
2017

September 29,
2018

September 30th,
2017

Total revenue

$

1253.8

$

1146.6

$

2456.3

$

2099.0

Cost of goods sold

490.7

455.8

942.4

833.5

Gross profit

763.1

690.8

1513.9

1265.5

Total operating expenses

573.7

491.7

1109.3

917.0

Revenue from operations

189.4

199.1

404.6

348.5

Other income, net

(1.5

)

(0.3

)

(2.3

)

(0.9

)

Interest expense, net

5.9

0.8

13.4

1.9

Losses in foreign currency (earnings)

33.0

(40.5

)

35.9

(41.7

)

Income before tax on profit

152.0

239.1

357.6

389.2

Provisions for profit tax

14.9

36.4

34.3

61.0

Net income

137.1

202.7

323.3

328.2

Less: Net loss attributable to uncontrolled interests

(0.5

)

(0.2

)

(0.7

)

(0.2

)

Net revenue attributable to MKHL

$

137.6

$

202.9

$

324.0

$

328.4

Ordinary weighted shares in circulation:

Basic

149575112

151781340

149538607

153134119

Diluted

151705685

154168094

152052671

155519806

Net Ordinary Income:

Basic

$

0.92

$

1.34

$

2.17

$

2.14

Diluted

$

0.91

$

1.32

$

2.13

$

2.11

SCHEMA 2

MICHAEL KORS HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED BALANCES
(In millions, excluding share data)
(Inaudible)

September 29,
2018

31st of March,
2018

September 30th,
2017

goods

Current assets

Cash and cash equivalents

$

155.2

$

163.1

$

178.2

Claims, net

339.9

290.5

274.5

inventories

767.6

660.7

696.5

Prepayments and other current assets

211.4

147.8

181.5

Current total assets

1474.1

1262.1

1330.7

Real estate and equipment, net

552.0

583.2

562.7

Intangible assets, net

1158.6

1235.7

405.7

benevolence

796.9

847.7

119.7

Deferred tax assets

47.1

56.2

69.2

Other goods

78.6

74.1

43.7

Total assets

$

4107.3

$

4059.0

$

2531.7

Liabilities and equity

Current debts

claims

$

290.5

$

294.1

$

174.0

Salaries and wage costs

82.7

93.0

51.9

Taxes on profits

23.9

77.6

60.1

Short-term debt

255.0

200.0

Accumulated expenses and other current liabilities

345.8

295.6

188.7

Total current liabilities

997.9

960.3

474.7

Deferred rent

133.5

128.4

131.7

Deferred tax liabilities

181.5

186.3

78.7

Long term debt

504.6

674.4

Other long-term debts

106.5

88.1

41.4

Total liabilities

1924.0

2037.5

726.5

Commitments and contingencies

Equity

Ordinary shares, no nominal value; 650,000,000 authorized shares; 213,208,924 issued shares and 150,150,297 shares issued on September 29, 2018; 210,991,091 shares issued and 149,698,407 outstanding on 31 March 2018 and 210,200,479 shares issued and 152,066,668 outstanding on 30 September 2017

Treasury shares at cost (63,058,627 shares on 29 September 2018, 61,292,684 shares on 31 March 2018 and 58,133,811 shares on 30 September 2017)

(3123.0

)

(3015.9

)

(2815.8

)

Additional paid capital

877.9

831.1

791.9

Has accrued other global income (losses)

(62.9

)

50.5

(59.6

)

Retained earnings

4487.7

4152.0

3888.5

Total equity of MKHL

2179.7

2017.7

1805.0

Uncontrolled interest

3.6

3.8

0.2

Shareholders' equity

2183.3

2021.5

1805.2

Total debt and equity

$

4107.3

$

4059.0

$

2531.7

SCHEMA 3

MICHAEL KORS HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED SEGMENT DATA
($ million)
(Inaudible)

Three months off

Six months have ended

September 29,
2018

September 30th,
2017

September 29,
2018

September 30th,
2017

Revenue per segment and region:

MK Retail

Americas

$

394.9

$

385.5

$

797.1

$

777.6

Europe

139.2

154.2

258.7

276.3

Asia

109.8

105.3

227.6

211.0

MK Retail Revenue

643.9

645.0

1283.4

1264.9

MK Wholesale

Americas

354.3

340.4

629.4

567.6

EMEA

80.9

104.5

149.3

169.5

Asia

22.6

18.7

41.9

30.1

MK Wholesale Income

457.8

463.6

820.6

767.2

MK Licensing

Americas

23.1

26.0

38.4

40.8

EMEA

12.3

12.0

24.5

26.1

MK Licensing Revenue

35.4

38.0

62.9

66.9

Michael Kors's income

1137.1

1146.6

2166.9

2099.0

Jimmy Choo

Americas

20.4

46.0

EMEA

56.8

158.5

Asia

39.5

84.9

Jimmy Choo's income

116.7

289.4

Total revenue $ 1253.8 $ 1146.6 $ 2456.3 $ 2099.0
Revenue from operations:

MK Retail

$

67.9

$

69.0

$

160.4

$

161.2

MK Wholesale

130.1

119.6

227.6

163.1

MK Licensing

9.8

10.5

18.9

24.2

Michael Kors

207.8

199.1

406.9

348.5

Jimmy Choo

(18.4

)

(2.3

)

Total revenue from operations $ 189.4 $ 199.1 $ 404.6 $ 348.5
Operating margin:

MK Retail

10.5

%

10.7

%

12.5

%

12.7

%

MK Wholesale

28.4

%

25.8

%

27.7

%

21.3

%

MK Licensing

27.7

%

27.6

%

30.0

%

36.2

%

Michael Kors

18.3

%

17.4

%

18.8

%

16.6

%

Jimmy Choo

(15.8

)%

%

(0.8

)%

%

Total operating margin 15.1 % 17.4 % 16.5 % 16.6 %

SCHEMA 4

MICHAEL KORS HOLDINGS LIMITED AND SUBSIDIARIES
ADDITIONAL INFORMATION ABOUT RETAIL STORAGE
(Inaudible)

September 29, 2018

Information about the retail store

Shop countdown

Fingerprint in square

Americas

398

1365108

Europe

195

535 103

Asia

261

560 401

Michael Kors

854

2460612

Jimmy Choo

204

268 251

Total MKHL

1058

2728863

SCHEMA 5

MICHAEL KORS HOLDINGS LIMITED AND SUBSIDIARIES
CONSTANT CURRENT DATA
(In millions)
(Inaudible)

Three months off

% Change

September 29,
2018

September 30th,
2017

As
Reported

Constant
Currency

Total revenue:

MK Retail

$

643.9

$

645.0

(0.2

)%

0.5

%

MK Wholesale

457.8

463.6

(1.3

)%

(0.9

)%

MK Licensing

35.4

38.0

(6.8

)%

(6.8

)%

Michael Kors

1137.1

1146.6

(0.8

)%

(0.3

)%

Jimmy Choo

116.7

NM

NM

Total revenue $ 1253.8 $ 1146.6 9.3 % 9.9 %

Six months have ended

% Change

September 29,
2018

September 30th,
2017

As
Reported

Constant
Currency

Total revenue:

MK Retail

$

1283.4

$

1264.9

1.5

%

0.6

%

MK Wholesale

820.6

767.2

7

%

6.5

%

MK Licensing

62.9

66.9

(6.0

)%

(6.0

)%

Michael Kors

2166.9

2099.0

3.2

%

2.6

%

Jimmy Choo

289.4

NM

NM

Total revenue $ 2456.3 $ 2099.0 17.0 % 16.4 %

SCHEMA 6

THE NON-GAAP RECONCILIATION OF THE MEASURES REFERRED TO IN ADJUSTED MEASURES,
EXCLUSION OF STORAGE OF ASSETS ON MARKET IN LENGTH, RESTRUCTURING AND OTHER TAXES,
THE JIMMY CHOO AND JUMMY ACTION STAGE
DERIVATIVE CONTRACT RELATED TO THE VERIFICATION PURCHASE AGREEMENT
(In millions, excluding share and share data)
(Inaudible)

Three months ended September 29, 2018

As reported

deterioration
Taxes

restructuring
and another
Taxes(1)

Inventory
Step-up
Adjustment

Acquisition
Price
Derived
Contract

As it was adjusted

Gross Profit Jimmy Choo

$

82.4

$

$

$

2.3

$

$

84.7

Total Gross Profit

$

763.1

$

$

$

2.3

$

$

765.4

Income from MK Retail

$

67.9

$

5.7

$

6

$

$

$

79.6

MK Revenue from wholesale

130.1

4.1

134.2

MK Licensing of operating income

9.8

0.7

10.5

Michael Kors operating income

207.8

5.7

10.8

224.3

Loss of Jimmy Choo's operation

(18.4

)

1.3

7.4

2.3

(7.4

)

Total income from activities

$

189.4

$

7

$

18.2

$

2.3

$

$

216.9

Michael Kors's operating expenses

$

472.9

$

(5.7

)

$

(10.8

)

$

$

$

456.4

Jimmy Choo's operating expenses

100.8

(1.3

)

(7.4

)

92.1

Total operating expenses

$

573.7

$

(7.0

)

$

(18.2

)

$

$

$

548.5

Losses in foreign currency

$

33.0

$

$

$

$

(30.4

)

$

2.6

Income before tax on profit

$

152.0

$

7

$

18.2

$

2.3

$

30.4

$

209.9

Provisions for profit tax

$

14.9

$

1.0

$

1.6

$

0.4

$

$

17.9

Net revenue attributable to MKHL

$

137.6

$

6

$

16.6

$

1.9

$

30.4

$

192.5

Net diluted earnings per ordinary share – MKHL

$

0.91

$

0.04

$

0.11

$

0.01

$

0.20

$

1.27

______________________

(1)

Includes closure costs for stores registered in connection with the Retail Fleet Plan and other restructuring initiatives, the transition costs incurred in connection with the purchase of Jimmy Choo Group Limited and the transaction and transition costs recorded in connection with the company's to acquire Gianni Versace SpA

SCHEMA 7

THE NON-GAAP RECONCILIATION OF THE MEASURES REFERRED TO IN ADJUSTED MEASURES,
EXCLUSION OF STORAGE OF ASSETS ON MARKET IN LENGTH, RESTRUCTURING AND OTHER TAXES,
THE JIMMY CHOO AND JUMMY ACTION STAGE
DERIVATIVE CONTRACT RELATED TO THE VERIFICATION PURCHASE AGREEMENT
(In millions, excluding share and share data)
(Inaudible)

Six months ended September 29, 2018

As reported

deterioration
Taxes

restructuring
and another
Taxes(1)

Inventory
Step-up
Adjustment

Acquisition
Price
Derived
Contract

As it was adjusted

Gross profit

$

1513.9

$

$

$

4.7

$

$

1518.6

Income from MK Retail

$

160.4

$

10.0

$

10.6

$

$

$

181.0

MK Revenue from wholesale

227.6

4.5

232.1

MK Licensing of operating income

18.9

0.8

19.7

Michael Kors operating income

406.9

10.0

15.9

432.8

Jimmy Choo Revenues That Work (Losses)

(2.3

)

1.3

13.6

4.7

17.3

Total income from activities

$

404.6

$

11.3

$

29.5

$

4.7

$

$

450.1

Michael Kors's operating expenses

$

912.4

$

(10.0

)

$

(15.9

)

$

$

$

886.5

Cheltuielile de exploatare ale lui Jimmy Choo

196.9

(1.3

)

(13.6

)

182.0

Total cheltuieli de funcționare

$

1,109.3

$

(11.3

)

$

(29,5

)

$

$

$

1,068.5

Pierderi în valută străină

$

35,9

$

$

$

$

(30,4

)

$

5.5

Venituri înainte de prevederea impozitului pe profit

$

357.6

$

11.3

$

29,5

$

4.7

$

30,4

$

433.5

Provizioane pentru impozitul pe profit

$

34.3

$

1.9

$

4

$

0,8

$

$

41.0

Venitul net atribuibil MKHL

$

324,0

$

9.4

$

25.5

$

3.9

$

30,4

$

393,2

Venitul net diluat per acțiune ordinară – MKHL

$

2.13

$

0,06

$

0,17

$

0,03

$

0,20

$

2,59

______________________

(1)

Include costurile de închidere a magazinelor înregistrate în legătură cu Planul de optimizare a flotei cu amănuntul și alte inițiative de restructurare, costurile de tranziție înregistrate în legătură cu achiziționarea companiei Jimmy Choo Group Limited și costurile de tranzacție și de tranziție înregistrate în legătură cu acordul companiei de a achiziționa Gianni Versace S.p.A.

SCHEMA 8

RECONCILIERILE NON-GAAP ALE MĂSURILOR REFERATE LA MĂSURI ADJUSTATE,
EXCLUDEREA DEZVOLTĂRII ACTIVELOR LIVE,
RESTRUCTURAREA ȘI ALTE TAXE ȘI CONTRACTUL DERIVAT
Legat de achiziționarea de JIMMY CHOO
(În milioane, cu excepția datelor despre acțiuni și pe acțiuni)
(Neauditate)

Trei luni au expirat la 30 septembrie 2017

După cum a fost raportat

deteriorare
Taxe

Restructurarea
si altul
Taxe(1)

Achiziţie
Preț
Derivat
Contracta

Așa cum a fost ajustat

Venituri din exploatare MK Retail

$

69.0

$

16.3

$

13.9

$

$

99.2

MK Venituri din exploatare cu ridicata

119.6

6.9

126.5

MK Licențiere venituri din exploatare

10.5

1.2

11.7

Total venituri din activități

$

199.1

$

16.3

$

22.0

$

$

237.4

Costuri de operare

$

491.7

$

(16.3

)

$

(22,0

)

$

$

453.4

Creșterea valutară

$

(40,5

)

$

$

$

36,7

$

(3.8

)

Income before provision for income taxes

$

239.1

$

16.3

$

22.0

$

(36.7

)

$

240.7

Provision for income taxes

$

36.4

$

2.9

$

4.1

$

(7.0

)

$

36.4

Net income attributable to MKHL

$

202.9

$

13.4

$

17.9

$

(29.7

)

$

204.5

Diluted net income per ordinary share – MKHL

$

1.32

$

0.09

$

0.11

$

(0.19

)

$

1.33

Six Months Ended September 30, 2017

As Reported

Impairment
Charges

Restructuring
and Other
Charges(1)

Acquisition
Price
Derivative
Contract

As Adjusted

MK Retail operating income

$

161.2

$

16.3

$

14.5

$

$

192.0

Total income from operations

$

348.5

$

16.3

$

23.3

$

$

388.1

Operating expenses

$

917.0

$

(16.3

)

$

(23.3

)

$

$

877.4

Foreign currency gain

$

(41.7

)

$

$

$

36.7

$

(5.0

)

Net income attributable to MKHL

$

328.4

$

13.4

$

19.0

$

(29.7

)

$

331.1

Diluted net income per ordinary share – MKHL

$

2.11

$

0.09

$

0.12

$

(0.19

)

$

2.13

______________________

(1)

Includes store closure costs recorded in connection with the Retail Fleet Optimization Plan and transaction costs recorded in connection with the acquisition of Jimmy Choo Group Limited.

View source version on businesswire.com : https://www.businesswire.com/news/home/20181107005295/en/

Michael Kors Holdings Limited
Katina Metzidakis, 201-514-8234
[email protected]
or
Media:
Michael Kors Holdings Limited
Dinesh Kandiah, 917-934-2427
[email protected]

        Source: Michael Kors Holdings Limited

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