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Follow-Up Commentary On: (NYSE:KORS), (NYSE:PHM)


New York, NY -- (ReleaseWire) -- 02/13/2013 --- Michael Kors Holdings Limited (NYSE:KORS) announced its financial results for the third quarter ended December 29, 2012.

For the third quarter ended December 29, 2012 total revenue increased 70.4% to $636.8 million from $373.6 million in the third quarter of fiscal 2012 and Gross profit increased 72.8% to $383.5 million, and as a percentage of total revenue increased to 60.2% compared to 59.4% in the third quarter of fiscal 2012.

John D. Idol, the Company’s Chairman and Chief Executive Officer, said, “Our strong third quarter performance reflects sustained brand momentum as the global recognition and appeal for the Michael Kors luxury brand continued to expand.”

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PulteGroup, Inc. (NYSE:PHM) recently announced financial results for its fourth quarter ended December 31, 2012.

For the quarter, PulteGroup reported net income of $59 million, or $0.15 per share. Reported net income includes charges of $49 million, or $0.13 per share, for potential future loan repurchase obligations, and $32 million, or $0.08 per share, relating to the repurchase of $496 million of senior notes in the period. These charges were partially offset by $8 million, or $0.02 per share, of income tax benefits associated with the favorable resolution of certain tax matters.

PulteGroup, Inc., through its subsidiaries, engages in homebuilding and financial services businesses primarily in the United States.

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