Fri, Nov. 25, 9:07 AM
- Channel checks from Piper Jaffray indicate most of the consumer action last night was focused on toys, electronics and beauty. The first two categories are business as usual for the shopping event, but strong traffic at beauty stores could be an extra boost for Ulta Salon (NASDAQ:ULTA), Sally Beauty Holdings (NYSE:SBH) and e.l.f. Beauty (NYSE:ELF).
- The investment firm also cited solid demand for smartwatches at Fossil (NASDAQ:FOSL) and Michael Kors (NYSE:KORS) stores, while also calling footwear traffic (NKE, UA, FL, FINL, DECK) and conversion rates encouraging.
- Source: Bloomberg
Mon, Nov. 21, 9:42 AM
Wed, Nov. 16, 12:01 PM
Wed, Nov. 16, 9:20 AM
- KeyBanc Capital Markets lifts Fossil (NASDAQ:FOSL) to an Overweight rating from Sector Weight in a confident post-election upgrade.
- Improved trends in the high-end retail sector have brought some investors back into the beat-up names.
- Fossil rose 21% in a week to close just under $33 yesterday. KeyBanc's price target of $42 implies another 27% on the upside is still to come.
Mon, Nov. 14, 10:15 AM
- Clothing and footwear stocks are jetting higher as more analysts bump up expectations on consumer spending in Q4 and broadly forecast tax relief for the consumer goods sector (effective tax rates paid).
- Many of the names with the sharpest moves higher today are recovering from a pre-election slump.
- Gainers include Sequential Brands Group (SQBG +11.7%), Iconix Brand Group (ICON +5.1%), Carter's (CRI +4.6%), Vera Bradley (VRA +4.6%), Wolverine World Wide (WWW +4%), Crocs (CROX +4.3%), Caleres (CAL +4.6%), Ralph Lauren (RL +3.4%), Fossil (FOSL +5%), Perry Ellis (PERY +3%), Deckers Outdoor (DECK +3.5%), Skechers (SKX +3.2%) and Coach (COH +3.1%).
- Kate Spade (KATE +5.9%) is also rallying, but has news of an activist investor on the prowl also factoring in.
- Previously: Kate Spade hears from activist firm (Nov. 14)
- Previously: Investors see upside with apparel store stocks (Nov. 14)
Mon, Nov. 7, 3:36 PM
- Fossil (FOSL +5.1%) CEO Kosta Kartsotis doesn't seem to be optimistic over the future of the department store chain model.
- "Consumers don’t want to see a huge assortment of products like what’s in a department store. They want to see a few good, well-designed products," said Kartsotis on the firm's earnings call.
- Fossil is closing stores and narrowing its focus as part of its updated strategy.
- Fossil earnings call transcript
Fri, Nov. 4, 12:00 PM
Thu, Nov. 3, 4:23 PM
Wed, Nov. 2, 5:35 PM
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Tue, Aug. 23, 8:47 AM
- Swiss watch exports fell 14.2% Y/Y in July by Swiss francs and 16% by volume.
- The dismal performance for the Swiss watch sector prompted Jefferies to back its Underweight rating on Fossil (NASDAQ:FOSL) and $25 price target vs. yesterday's $31.41 close.
- Full report from the Federation of the Swiss watch industry (.pdf)
Wed, Aug. 10, 9:58 AM
- Results from Fossil (FOSL +5.3%) and Ralph Lauren (RL +8.2%) that came in ahead of some beat-down expectations are helping to provide a lift to other names in the apparel sector. The rally is focused primarily on higher-end sellers.
- Cost streamlining helped to cut into weak tourism and F/X trends.
- Notable gainers include Hanesbrands (HBI +3.6%), PVH Corp (PVH +1%), Luxottica (LUX +1.9%), Kohl's (KSS +2.3%), VF Corp (VFC +1.2%), Guess (GES +1.2%), G-III Apparel (GIII +1.7%), Gildan Activewear (GIL +0.8%), and Vera Bradley (VRA +1.5%).
Wed, Aug. 10, 9:17 AM| Wed, Aug. 10, 9:17 AM | 4 Comments
Tue, Aug. 9, 4:15 PM
- Fossil (NASDAQ:FOSL) sales in the America fell 11% in Q2 (-10% in constant currency).
- Sales in Europe were down 5%, while sales in Asia fell off 1%.
- The company's watch business saw a 10% drop in revenue which was offset by gains for leathers and jewelry.
- The loss of sales and a higher mix of promotions impacted Fossil's margin rates. Gross margin as a percentage of sales fell 340 bps to 51.9%. Operating margin rate plunged to 2.3%. from 9.5% a year ago.
- Guidance: Fossil sees FQ3 sales falling 6% to 2% and operating margin landing in a range of 2.5% to 4.5%. EPS of $0.15 to $0.40 is anticipated.
- Previously: Fossil beats by $0.03, beats on revenue (Aug. 9)
- FOSL +0.82% AH to $30.61.
Tue, Aug. 9, 4:05 PM
Mon, Aug. 8, 5:35 PM
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Wed, Aug. 3, 9:47 AM
- Kate Spade's (KATE -19.2%) weak results posted earlier this morning have created some broad anxiety across the spectrum of retailers that sell handbags luxury apparel, and accessories.
- The report from Kate Spade threw a bright spotlight on the uphill battle the sector faces in replacing sales from the reduced level of tourists pouring into the U.S.
- Coach (COH -1%), Vera Bradley (VRA -2.5%), Michael Kors (KORS -4%), Movado (MOV -0.3%), and Fossil (FOSL -2.9%) are all notably lower.
- Previously: Weak tourism cuts into results at Kate Spade (Aug. 3)