Summary: Michael Kors proved its handbag is the hot holiday item. Earnings blew away last year's numbers as comparable store sales increased 28% and total revenue jumped 59% for the third quarter of fiscal 2013. Retail net sales increased 51% and gross profit increased 61%. The stock soared as a result of the earnings as investors look to proven winners in this difficult market. Michael Kors also increased guidance for the year much high than previously expected.
