Looking ahead, sales at established locations might rise as much as 25% this year, the company says. Kors now expects to earn $1.32 to $1.34 a share this year, greater than the earlier forecast range of $1.08 to $1.12 a share. Revenue should be $1.8 billion to $1.9 billion. Analysts foresee earnings of $1.12 on revenue of $1.78 billion.
Net income in the second quarter was $68.7 million, 34 cents a share, from $24.1 million, 13 cents a share. That considerably exceeds Wall Streetâ€˜s prediction of $40.3 million, 20 cents a share.
Shares of Kors rose 10.9% to $46.98 in pre-market trading. Since going public last December, the stock gained more than 75%. Kors has outperformed nearly all other luxury companies in that time, businesses like Ralph Lauren, Coach, Tiffany and PVH Corp. It now trades at a significant growth multiple: It fetches 41.9 times expected 2013 earnings and 33.6 times 2014 earnings.