Michael Kors Fourth Quarter Revenues Expected to Be Strong
Erinn Murphy, an analyst at Piper Jaffray, believes Michael Kors (NYSE: KORS) will report stronger-than-expected fourth quarter revenues.
Murphy found that the weekly web search traffic rose 69% YoY and believes this will convert to higher sales.
The fourth quarter revenue forecasts $515M-$525M, below third quarter revenues of $636.8M, despite fourth quarter revs typically being higher than third quarter revs.
Piper Jaffray currently has an Overweight rating on KORS with a $77 price target.
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