Pursuits
Michael Kors Surges After Raising Annual Profit Forecast
This article is for subscribers only.
Michael Kors Holdings Ltd., the luxury-goods company founded by the designer of that name, soared the most in six months after raising its profit forecast because of better-than-expected sales at existing stores.
The shares added 16 percent to $49.33 in New York, for the biggest gain since Feb. 14. The stock has more than doubled since the Hong Kong-based company’s initial public offering in December.