Michael Kors’ sales miss, so soon after the Versace acquisition, has analysts worried

It’s never a good time for a sales miss, but Michael Kors Holdings Ltd.’s fiscal second-quarter shortfall came at a particularly bad time, analysts say: soon after the Versace acquisition was announced.

Michael Kors KORS, -14.62% , whose portfolio also includes the namesake brand and Jimmy Choo, reported total revenue of $1.25 billion, up from $1.15 billion last year but below the FactSet consensus for $1.26 billion.

Shares are down 15.3% in Wednesday trading.

Michael Kors brand revenue was down 0.8% and same-store sales were down in the low-single digits.

“The step back in their core fundamental Michael Kors business could not come at a worse time, as the company recently announced the acquisition of Versace — which many investors already had a problem with — and now Michael Kors carries an unfavorable trajectory right as they are about to layer in a deal that is planned to be high-single digit dilutive to year one,” wrote Wells Fargo analysts led by Ike Boruchow.

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