Fri, Nov. 27, 12:54 PM
- "We believe Thanksgiving shopping was a bust," says SunTrust, following channel checks in the New York metro area, New England, and the Southeast starting yesterday and continuing through the night into Black Friday.
- Team members dispatched to malls had no problem finding parking or navigating stores, says SunTrust, and there seemed to be more browsing than buying going on.
- Lines at Wal-Mart (WMT -0.5%) and Target (TGT +0.3%) were about half of last year, but Kohl's (NYSE:KSS) was the exception to lame traffic.
- Joining Kohl's among early winners according to SunTrust are Aeropastale (ARO +0.8%), Abercrombie & Fitch (ANF +0.2%), American Eagle Outfitters (AEO -0.4%), and Kate Spade (KATE -2.6%). New York & Co. (NWY +1.9%) was among the early losers. Gap (GPS -2.7%) scores both a win and a loss, with Old Navy looking good, but Gap stores not so much.
- Hanging out at Minneapolis' Mall of America, KeyBanc's Edward Yruma says traffic looks weaker than past years. "It doesn't look much busier than an average Saturday morning."
- ETFs: XLY, XRT, VCR, RTH, RETL, FXD, FDIS, RCD, PMR, BITE
Tue, Nov. 24, 10:43 AM| Tue, Nov. 24, 10:43 AM | 1 Comment
Mon, Nov. 23, 12:29 PM
- High-end global retail stocks are on the move as some analysts see the sector as oversold.
- A positive step forward for trade talks between China and the U.S. may also be contributing to the mini-rally.
- Gainers: Ralph Lauren (RL +1.8%), Guess (GES +3.3%), Coach (COH +2%), Michael Kors (KORS +1.8%), Vera Bradley (VRA +1.6%), Kate Spade (KATE +2.6%), PVH Corp (PVH +1.6%).
Fri, Nov. 20, 11:47 AM
- The S&P Retail ETF (NYSEARCA:XRT) is up 1.9% with apparel and footwear stocks doing much of the heavy lifting.
- A vibrant rally in sports stocks was sparked by earnings reports and Nike. Iconix Brand (ICON +2.5%), G-III Apparel (GIII +3%), DSW (DSW +3.7%), Finish Line (FINL +3.1%), Caleres (CAL +2.2%), Genesco (GCO +3.5%), and Shoe Carnival (SCVL +1.7%) join the list reported on earlier.
- Luxury names are on the move with Kate Spade (KATE +2%), Fossil (FOSL +2.9%), Coach (COH +1.4%), and Movado (MOV +2.7%) higher.
- The beat-up mall retailer group is also recovering after results from Gap (GPS +6%) and Abercrombie & Fitch (ANF +19.4%) topped worst-case scenarios. American Eagle Outfitters (AEO +2.3%), Guess (GES +4.6%), and Pacific Sunwear (PSUN +5.4%) are notable gainers.
- Big box retailers are the laggards today. Wal-Mart, Target (TGT +0.6%), and Costco (COST +0.6%) are right at market index averages.
Thu, Nov. 5, 8:25 AM| Thu, Nov. 5, 8:25 AM | Comment!
Thu, Nov. 5, 7:06 AM
Wed, Nov. 4, 5:30 PM
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Tue, Nov. 3, 10:02 AM
- Kate Spade (NYSE:KATE) is higher with Cleveland Research issuing positive comments on sales trends for the retailer.
- The company reports Q3 earnings on November 5 with analysts expecting revenue of $289M and EPS of $0.03.
- KATE is +3.88% to $19.01, still on the bottom end of the 52-week range of $16.76 to $35.75.
Mon, Nov. 2, 11:37 AM
- Yoga pants are knocking at the door of business offices, according to The Boston Globe
- There's been a growing acceptance to count yoga pants as "business casual" at some workplaces. The trend could continue as younger managers take over.
- The broader athleisure category generated sales of over $2B last year and is expected to grow at a double-digit clip this year.
- Companies seen growing their presence in athleisure include Lululemon (NASDAQ:LULU), Gap (NYSE:GPS), Nike (NYSE:NKE), Target (NYSE:TGT), Dick's Sporting Goods (NYSE:DKS), Hanesbrands (NYSE:HBI), L Brands (NYSE:LB), Under Armour (NYSE:UA), and Kate Spade (NYSE:KATE). Other retailers such as Ann (NASDAQ:ASNA), New York & Companies (NYSE:NWY), and J.C. Penney (NYSE:JCP) are creating new brands in an effort to recapture lost business clothing sales from casual attire becoming more prominent.
Tue, Oct. 27, 9:43 AM
- Coach (NYSE:COH) is up 8.3% after the company issued a Q3 report showing some improvement in key regions. The comp in North America was -9.5% vs. -19% in the last quarter.
- Peers Michael Kors (NYSE:KORS) and Kate Spade (NYSE:KATE) are also higher in opening trades, up 2.5% and 1.0% respectively, amid a down market day.
- Previously: Coach maintains earnings guidance (Oct. 27 2015)
Thu, Sep. 24, 10:23 AM
- Kate Spade (KATE +1.1%) is higher after Stephens jumps in with a boosted rating of Overweight on the high-end retailer.
- The Stephens report titled "Put This One In Your Bag" exudes confidence that Kate Spade will see margin improvement.
- The investment firm keeps its price target on Kate at $31 which implies +60% upside potential.
Thu, Sep. 10, 11:28 AM
- Kate Spade (KATE +0.4%) is set to unveil its Broome Street label tomorrow.
- The company calls it a "casual expression" of everything it does, while Racked.com says the line is very similar to Kate Spade Saturday - only more expensive.
- Broome Street apparel will be available at retail chains and online next February.
Fri, Aug. 21, 10:06 AM
- Apparel stocks trade weaker than broad market averages as investors reset expectations on some sector favorites.
- Nike (NKE -1.5%) and Under Armour (UA -1.7%) are both lower despite positive comments by the Foot Locker CEO during a post-earnings conference call on demand trends for the athletic shoe brands.
- Skechers (NYSE:SKX) is down 3.4% after announcing a stock split, while Lululemon (LULU -1.6%), Kate Spade (KATE -0.4%), Michael Kors (KORS -1.9%) and Sequential Brands Group (SQBG -1.1%) are all extending yesterday's losses.
Wed, Aug. 19, 12:39 PM
- The handbag sector has had a rough time this year due to developments in the China luxury market, although analysts are quick to note that other factors are also in play.
- Surging demand for athletic and designer shoes has taken a toll on handbag sales, notes B. Riley's Jeff Van Sinderen.
- Other industry watchers blame heavy product distribution and excessive promotion for making some brands too "ubiquitous" with buyers.
- Within the sector, Kate Spade (NYSE:KATE) has reported stronger sales growth this year than Coach (NYSE:COH), Michael Kors (NYSE:KORS), Gucci (OTC:PPRUF, OTCPK:PPRUY), and Louis Vuitton (OTCPK:LVMUY).
Wed, Aug. 12, 10:16 AM
- Luxury retail stocks are off to a poor start again after Fossil (FOSL -2.1%) reported last night and with increased concerns over China.
- Analysts note it's not just sales in China which are at risk of lower F/X conversion rates, but European luxury sales could dip to due to the reliance of heavy buying (high average transaction prices) from Asian tourists.
- Luxury slumpers today include Movado (MOV -2.7%), Coach (COH -4.8%), Kate Spade (KATE -4.1%), Tiffany (TIF -4.3%), Luxottica (LUX -3.6%), Ralph Lauren (RL -2.2%), Michael Kors (KORS -4.1%), and Guess (GES -2.9%).
- Previously: Fossil beats by $0.30, misses on revenue (Aug. 11 2015)
- Previously: Mixed results for Fossil in Q2, shares -4% AH (Aug. 11 2015)
Tue, Aug. 11, 7:47 AM
- Citi adds Kate Spade (NYSE:KATE) to its Focus List.
- The investment firm names the retailer as its top pick for the back half of the year in the apparel/footwear sector.
- Citi has a price target of $33 on Kate which implies +50% upside from its current level.
- Previously: Kate Spade breaks out after management pulls the right levers (Aug. 05 2015)
- KATE +0.8% premarket to $21.22.
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