November 4, 2014 8:10 AM | 2 min read |
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Michael Kors Holdings (NYSE: KORS) reported upbeat earnings for the fiscal second quarter and lifted its forecast for the year. Michael Kors now projects full-year earnings of $4.13 to $4.18 per share on revenue of $4.3 billion to $4.4 billion. The company had earlier expected earnings of $4 to $4.05 per share on revenue of $4.25 billion to $4.35 billion. It lowered its comparable sales forecast to mid teens versus high teens.For the third quarter, the company expects earnings of $1.31 to $1.34 per share on revenue of $1.27 billion to $1.30 billion with low double digit comparable sales gain.The Tsim Sha Tsui, Hong Kong-based company reported quarterly earnings of $207 million, or $1 per share, compared to $145.8 million, or $0.71 per share, in the year-ago period.Its total revenue climbed 42.7% to $1.06 billion. The company had earlier expected earnings of $0.85 to $0.87 per share, on revenue of $950 million to $960 million. However, analysts were expecting earnings of $0.89 per share on revenue of $976.79 million.Michael Kors' retail net sales rose 39.4% to $495.6 million, while same-store sales climbed 16.4%. Wholesale net sales jumped 46% to $514.1 million in the quarter, while licensing revenue gained 42.8% to $46.9 million.North American revenue gained 29.8% to $802.2 million in the quarter, with same-store sales rising 10.8%. European revenue jumped 108.6% to $237.9 million, while same-store sales rose 41.1%.Gross profit rose 43.4% to $645.0 million, while income from operations gained to $305.6 million from $221.5 million.Michael Kors' board also authorized a $1 billion share repurchase program.At September 27, 2014, Michael Kors operated 473 retail stores, including concessions, versus 352 retail stores, including concessions, at the end of the year-ago period.John D. Idol, the Company's Chairman and Chief Executive Officer, said, “Our strong second quarter results reflect our fashion leadership, aspirational product offering and jet-set luxury image that continue to resonate with customers globally. Once again, we delivered exceptional performance with both revenue and earnings per share growth in excess of 40%. This ongoing momentum reflects strength across our operating segments and geographies as we continue to expand our presence globally.”Michael Kors shares fell 6.40% to $73.00 in pre-market trading.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
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