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After selling off yesterday along with other retail names, Michael Kors (KORS -3.3%) is lower...
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Thursday, December 27, 2012, 2:44 PM ETAfter selling off yesterday along with other retail names, Michael Kors (KORS -3.3%) is lower today thanks to a critical note from Citi. Analyst Oliver Chen says checks indicate discounts for Kors handbags are greater than those seen on Black Friday, and in some cases amount to 30%-50% below their retail price. He's lowering his estimates and slashing his PT to $60 from $68, albeit while maintaining a Buy.
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This news story has 1 comment:
Possibly too much wit the MK logo.
Good sales but it has GREAt possibilities because it fils a void price wise.