When Michael Kors Holdings Ltd. (NYSE: KORS) released its fiscal fourth-quarter earnings report before the markets opened on Wednesday, the retailer said that it had $0.63 in earnings per share (EPS) on $1.18 billion in revenue. Consensus estimates from Thomson Reuters had called for $0.60 in EPS and revenue of $1.15 billion. In the same period of last year, it posted EPS of $0.73 and $1.06 billion in revenue.

During the latest quarter, total revenue increased 10.8%, including a $107.9 million contribution from Jimmy Choo. On a constant currency basis, total revenue increased 7.2%. Comparable sales increased 2.3%, driven by growth in the accessories, footwear, ready-to-wear and men’s categories.

At the same time, the company’s wholesale segment saw revenues drop by 3.2%, or 6.1% on a constant currency basis. Also, licensing revenue decreased 11.1%.

Looking ahead to the fiscal first quarter, the company expects to see EPS in the range of $0.90 to $0.95 and revenues of $1.135 billion. The consensus estimates call for $0.88 in EPS and $1.09 billion in revenue for the quarter.

On the books, Michael Kors cash and cash equivalents totaled $163.1 million at the end of the quarter, compared with $227.7 million at the end of the previous fiscal year.

John D. Idol, board chair and chief executive, commented:

Looking to fiscal 2019, we have a number of initiatives planned to drive growth in both of our luxury brands. For Michael Kors, we expect growth to be led by our retail business, as we remain focused on executing initiatives across fashion luxury product, brand engagement and customer experience. For Jimmy Choo, we will continue to make strategic investments to expand our retail fleet globally, capitalize on the significant opportunity to grow our accessories business and increase brand engagement through glamorous red-carpet marketing communications. Additionally, we will continue to explore acquisitions to complement our existing luxury portfolio. Overall, we are well-positioned to deliver long-term growth and enhance shareholder value by executing on the strategies in place for both Michael Kors and Jimmy Choo.

Shares of Michael Kors were last seen down about 12% at $60.09 on Wednesday, with a consensus analyst price target of $74.08 and a 52-week range of $32.38 to $70.00.

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