Michael Kors Holdings (KORS: Quote) announced after the close Thursday that it now expects to report second quarter EPS of $0.38 to $0.40, up from prior expectations of $0.33 to $0.35. The company also increased its full year 2013 EPS guidance to between $1.39 and $1.41, from previous guidance of $1.32 to $1.34. The consensus estimates are for EPS of $0.36 and $1.37.
Michael Kors Holdings gapped up sharply Friday and climbed during the first hour of trade, before settling into a range. Shares finished up by 4.86 at $57.35 on above average volume. The stock broke out of a one-month range and set a new high for the year.
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by RTT Staff Writer
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