Josh Arnold
Long/short equity

Fifth & Pacific: Kate Spade Not Enough To Justify Valuation

Fifth & Pacific Companies (FNP) engages in the design, marketing and retailing of various lines of clothing and accessories throughout the US, Canada and parts of Europe and Japan. The company operates under four brands; Juicy Couture, Lucky Brand, Adelington Design Group and the crown jewel of the bunch, Kate Spade. The company sells its products through its own retail stores as well as to department stores as a wholesaler. The company operates over 400 stores in total on three continents and has experienced very rapid growth. This growth has powered the stock to multi-year highs as of late so the question for investors is whether or not the rapid uptrend in the stock has run its course or if...

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