Michael Kors Announces Earnings

Michael Kors Holdings (KORS) announced that fiscal second-quarter net income more than tripled. The retailer said that it earned $97.8 million, or 49 cents per share, up from $31.6 million, or 22 cents per share, in the same period last year. Revenue increased by 74 percent to $532.9 million from $305.5 million. Analysts had expected earnings of 40 cents per share on $519.9 million in revenue.