Michael Kors Third-Quarter Revenue Fails to Satisfy Wall Street

Michael Kors' earnings rose in its fiscal third quarter, but revenue and same-store sales fell more than expected.
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Michael Kors' (KORS) revenue declined 3.2% year over year to $1.35 billion, missing analysts' estimates of $1.36 billion. Same-store sales fell 6.9%, while analysts had anticipated a decrease of 5.2%. Diluted earnings climbed to $1.64 a share from $1.59 a year ago, slightly above analysts' estimates of $1.63 a share.