Shares of Michael Kors Holdings Ltd. (KORS) sank 15.4% on Wednesday, Nov. 7, to $48.62 after the luxury fashion company beat Wall Street's fiscal second-quarter earnings estimates but missed revenue expectations. 

Total revenue rose 9.3% from a year ago to $1.25 billion, missing analysts' expectations of $1.26 billion. The company reported net income or $192.5 million, or $1.27 a share, down from $204.5 million, or $1.33 a year ago, but beat analysts' estimates of $1.10 a share. Comparable-store sales decreased 2.1%. 

The company said the British luxury shoe brand Jimmy Choo, which Michael Kors acquired in November 2017, reported revenue of $116.7 million. 

Michael Kors raised its full-year adjusted earnings per share outlook to $4.95 to $5.05 from $4.90 from $5. For the fiscal third quarter, the company said it expects earnings per share of $1.52 to $1.57.

For the third quarter, the company said expects total revenue of about $1.46 billion, including roughly $165 million of incremental revenue from Jimmy Choo.

Third-quarter retail revenue for Michael Kors is expected to grow in the low single digits, the company said. Comparable-store sales are expected to decline in the low single digits, primarily due to an unfavorable foreign currency impact. Michael Kors expects wholesale revenue to decrease in the high single digits, and licensing revenue to decline in the mid-teens.