2013年03月12日

Michael Kors Shareholders to Offer 25 Million Shares

Michael Kors Holdings Ltd
Michael Kors Outlet Online. (KORS) said certain stockholders plan to offer 25 million shares, as investors look to cash in following a recent run-up of the specialty retailer's shares.
Among the selling shareholders, Hong Kong private-equity firm Sportswear Holdings Ltd. will sell about 20 million shares, reducing its current 15.6% ownership stake to 5.8%, according to a filing with the Securities and Exchange Commission. Michael Kors, the company's honorary chairman and chief creative officer, will offer three million shares, lowering his current 3.9% stake to 2.4%.
The company had about 200.3 million ordinary shares outstanding as of Feb. 13, according to the filing.
Michael Kors's stock has been on a run of late, climbing 55% over the past 12 months. The shares have jumped 15% this month alone, amid the company's latest blockbuster results.
Last week, the company reported its fiscal third-quarter earnings surged as it continued to see strong demand for its high-end merchandise and continued opening stores. Earnings and revenue beat expectations and Michael Kors raised its fiscal-year guidance

Michael Kors bags

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The company, which went public in December 2011, sells handbags, clothing, footwear and other apparel and accessories through shops-within-shops in luxury department stores and its own company-operated shops
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Shares were off 2.8% to $63.03 after hours Tuesday.
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