Michael Kors leads both high street and trading floor

Wall Street closed mixed Tuesday for the quoted apparel

companies as Dick’s Sporting Goods Inc. climbed almost 3 percent after the sporting goods retailer’s third-quarter results topped expectations. However the big news was Michael Kors Holdings Ltd. which rose 4.7 percent after the upscale designer brand’s fiscal second-quarter profit exceeded estimates with a 45 percent surge in its same-store sales.

leads Michael Kors said second-quarter earnings more than tripled to 49 cents per share in its first Q2 report since going public Dec. 15., published the ?Investors Business Daily’. Analysts were expecting 40 cents. The fashion house said sales jumped 74.4 percent to 532.9 million dollars, beating the consensus estimate of 519 million. Consequently, the high-end fashion brand reported earnings above estimates on Tuesday but the holiday yet it failed to reach market’s hopes with regards to the holiday season. ‘IBD’ reported that the swanky American designer´s outlook for the important holiday quarter was below analyst expectations.

Meanwhile, Saks (SKS) expects Q4 sales at stores open at least a year to be flat in the wake of Hurricane Sandy, reported ‘NASDAQ’. Its stock fell 4.3 percent after it said Hurricane Sandy hurt business. It lowered its fourth-quarter sales outlook.

Weaker performance for T.J. Maxx parent TJX Cos. Which saw little change: while its fiscal third-quarter profit beat expectations, its fourth-quarter forecast fell short.

In the UK, consumers are forecast to spend 4.6 billion online pounds over the two weeks commencing 3rd December, according to IMRG and Capgemini. As per their last compiled data, the largest stake of that (920 million pounds roughly) will go through smartphones and tablets.

Finally, also good news for youngsters’ beloved SuperGroup –, which saw total sales for the quarter increased by 20.3 percent to 98.4 million pounds while for the half year increased by 16.2 per cent to 158.2 million pounds.