Shares of Michael Kors rose 6.6 percent Wednesday after reporting better-than-expected quarterly results.
The handbag maker posted fiscal fourth-quarter earnings of 98 cents per share on revenue of $1.2 billion. Analysts polled by Reuters expected the firm to post earnings of 96 cents on revenue of $1.15 billion.
Kors' revenue figure represents a 10.9 percent fourth-quarter increase year over year, but don't be fooled, Conlumino CEO Neil Saunders said Wednesday.
"Most of the uplift is thanks to the fact the company opened some 142 new stores over the past year and has also expanded its online operations. When these are factored out, underlying growth is anemic—rising by just 0.3 percent over the prior year," he said in a note to clients.