Michael Kors Provides Cautious Forecast After First-Quarter Beat

Michael Kors Holdings Ltd. provided a cautious forecast for earnings and sales this year, showing that luxury-goods makers are navigating a turbulent retail environment.

Profit will be $4.56 to $4.64 a share, excluding some items, in the year through March 2017, and total revenue will be flat, the London-based company said in a statement Wednesday. That matches the company’s earlier forecast, even after it posted first-quarter earnings and sales that beat analysts’ projections.