Michael Kors proved its handbag was the hot holiday item. Earnings blew away last year's numbers as comparable store sales increased 28% and total revenue jumped 59% for the third quarter of fiscal 2013. Retail net sales increased 51% and gross profit increased 61%. The stock soared as a result of the earnings as investors look to proven winners in this difficult market. Michael Kors also increased guidance for the year much high than previously expected.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

If you liked this article you might like

Michael Kors Stock Has Nearly 50% Upside Even With Amazon Crushing Everyone

Here's How Apple Could Surprise Us With an Improved Apple Watch

How Fitbit's New Smartwatch Can Boost Its Sagging Top Line