Michael Kors Holdings (KORS) reported blowout fourth-quarter earnings Wednesday as shoppers across Europe and North America stepped up the pace of spending on its chic luxury goods.

The high-end fashion house offered middling guidance. But Michael Kors closed 3% higher to 63.95 on the stock market.

The seller of luxury clothing and accessories said earnings soared 138% to 50 cents a share. Analysts polled by Thomson Reuters expected 39 cents. Total revenue, which includes licensing revenue, climbed 57% to $597.2 million. Net sales rose 59% to $577.4 million, topping views for $548.2 million.

Kors credited strong demand for its overall brand and product assortment.

Global same-store sales soared 36.7% vs. a year ago. Comps in North America surged 35%. In Europe, total sales nearly doubled as comps surged 63%.

Wholesale net sales rose 59.4% to $304.7 million.

Kors has consistently topped quarterly sales and earnings forecasts since its December 2011 IPO. It didn't disappoint in Q4.

"The quarter was stellar, both on an absolute basis and against a backdrop of weaker retail sales results," said William Blair & Co. analyst Amy Noblin. European results especially were "phenomenal." She concluded, "They're firing on all cylinders.

Insiders Done Selling?

But three times since going public, Michael Kors Holdings has announced secondary offerings soon after a blowout earnings report, pouring cold water on a rally. One analyst who asked not to be named said a stock offering is less likely now because private equity firm Sportswear Holdings and insiders like founder and namesake Michael Kors have largely cashed out.

Hong Kong-based Sportswear owned 37% of shares before the first offering, but now holds just 6%.

"People were more concerned that Kors and CEO John Idol sold shares in the last secondary," the analyst told IBD. Kors' ownership is down to 2.5% and Idol's to 1%.

"I don't think internal management has any planned sales," the analyst said.

Kors continues to benefit from growing brand awareness, product category expansion, increased distribution and "shop-in-shop" conversion, said Noblin.

Citi Investment Research analyst Oliver Chen said he was very happy with the quarter.

"The comps they delivered were outstanding," he said. "It's the best growth story in retail.

The growth drivers, he adds, are "outstanding" fashion and product execution combined with a market positioning that's attractive across the demographic for mothers and daughters.

Rich Living Richly

The Kors brand is very hot, particularly in accessories like handbags as well as clothing, said Ken Perkins, president of Retail Metrics. Kors has struck a chord with shoppers by turning out products that are well designed and very fashionable, he added.

Its offerings, he says, "are resonating well" with high-income consumers.

Kors' stunning showing comes amid a rebound in luxury spending at some retailers, though not across the board, says Perkins.

Upscale jeweler Tiffany (TIF) beat sales and earnings forecasts Tuesday amid a surge in spending at its stores across all regions.

Payroll tax hikes have had less of an impact on high-end shoppers, who are big winners from stock market and housing gains.

If those rallies continue, the luxury segment should fare very well, said Perkins.

Kors guided Q1 and full-year earnings in line with consensus forecasts. But its revenue targets were slightly below analyst views.