Michael Kors Rises as Profit, Forecast Exceed Estimates
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Michael Kors Holdings Ltd., the luxury-goods company founded by the designer of the same name, surged the most in almost two years after posting profit that topped analysts’ estimates and raising its forecast.
The shares rose 17 percent to $89.91 at the close in New York for the biggest gain since Feb. 14, 2012. The shares jumped 59 percent in 2013.