Michael Kors Holdings Ltd. (NYSE: KORS) reported its fiscal third-quarter financial results before the markets opened on Tuesday. The company had $1.59 in earnings per share (EPS) on $1.40 billion in revenue. That compared to Thomson Reuters consensus estimates of $1.46 in EPS on revenue of $1.36 billion. The same period from the previous year had EPS of $1.48 and $1.31 billion in revenue.

Retail net sales increased 11.1% to $766.2 million, driven primarily by e-commerce sales from the company’s digital flagships and 114 net new store openings since the end of the third quarter of fiscal 2015.

As of December 26, 2015, Michael Kors operated 623 retail stores, including concessions, up from 509 at the end of the same prior-year period.

In terms of guidance, the company expects to have EPS in the range of $0.93 to $0.97 and revenues between $1.13 billion to $1.15 billion for the fiscal fourth quarter. The consensus estimates call for $1.00 in EPS on $1.16 billion in revenue.

John D. Idol, chairman and CEO of Michael Kors, commented on earnings:

We are pleased with our third quarter results, as we delivered revenue, comparable store sales and earnings growth ahead of our expectations. Our performance was driven primarily by strong consumer response to our luxury fashion product offering, particularly in our accessories and footwear categories, the continued momentum in our digital flagship business and outstanding growth in our international markets. As we look ahead, we are excited about our upcoming Spring collections that embody design innovation and underscore Michael Kors fashion leadership. In addition, we remain focused on further developing our digital flagship strategy as we offer our customers a seamless omni-channel experience, the build-out of our men’s business, and leveraging our strong brand awareness to expand our business globally. We believe that the continued execution of these strategic initiatives positions us well to deliver long term growth.

On the books, cash and cash equivalents totaled $696.8 million, compared to $1.00 billion in same period last year,

Shares of Michael Kors were trading up 19.5% at $48.21 on Tuesday, with a consensus estimate of $49.77 and a 52-week trading range of $34.83 to $73.47.

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