Wed, Aug. 5, 1:13 PM
- Kate Spade (KATE +6.5%) rallies after the retailer's earnings miss is overlooked by investors focusing on the company's ability to reduce its reliance on handbags and promotional activity.
- The breakout by Kate Spade arrives during a tough sales slog for the handbag sector (Coach, Vera Bradley, Michael Kors).
- Analysts say KS management has kept a "tight" level of inventory which has helped it ride out demand swings easier than peers.
- Previously: Kate Spade misses by $0.03, misses on revenue
- Previously: Double-digit sales growth for Kate Spade in Q2
Wed, Aug. 5, 9:19 AM
- Gainers: FNJN +60%. BIOC +13%. FSLR +11%. KATE +9%. Z +9%. HRB +8%. OAS +8%. TSEM +8%. PCLN +7%. SLTD +7%. MSI +6%. ATVI +6%. SUPN +6%. LC +6%. CTSH +6%. BBL +6%. SDRL +5%.
- Losers: SALE -33%. OHGI -28%. LL -24%. BOOT -23%. ETSY -20%. TRMB -13%. GLUU -10%. RSO -10%. DIS -9%. NYMT -7%. MEMP -7%. GNW -7%. PWR -7%. CERN -6%. PZZA -6%.
Wed, Aug. 5, 7:47 AM
- Kate Spade (NYSE:KATE) reports direct-to-consumer comparable sales rose 10% in Q2.
- Kate Spade North American sales +22% to $232M.
- Kate Spade International sales +16% to $36M.
- The company's gross margin rate increased 240 bps to 61.0% off a comparison from last year with a high level of inventory liquidations.
- SG&A expense rate fell 10 bps to 54.8%.
- Previously: Kate Spade misses by $0.03, misses on revenue
- KATE +5.1% premarket to $21.75.
Wed, Aug. 5, 7:20 AM
Tue, Aug. 4, 5:30 PM
- AMSC, ANSS, ARIA, ARQL, ATHM, ATRO, AVA, AVT, BLT, CEQP, CHK, CLDT, CLH, CMLP, CONE, CRK, CRME, CSTE, CSTM, CTSH, D, DAVE, DISCA, DISH, DNOW, DNR, EE, ENBL, FI, GDP, GTN, HCA, HFC, HSC, ICE, INXN, KATE, KELYA, KERX, LDOS, LG, LINC, LIOX, LL, LPLA, MEMP, MSI, MSO, MWE, PCLN, PWR, RDC, RL, SALE, SBGI, SCMP, SE, SNAK, SODA, SPAR, SPB, SUP, TMHC, TWX, USAC, VC, VLP, VOYA, VSI, WCG, WD, WEN, WIX
Tue, Jul. 28, 11:23 AM
- Retail stocks are in-line with market averages despite a soft read on consumer confidence and more stock market losses in China.
- The S&P Retail ETF (NYSEARCA:XRT) is up 0.26%, while Wal-Mart (NYSE:WMT) is 0.48% higher.
- Some high-end retail stocks are putting in surprising gains including PVH Corp (PVH +1.7%), Michael Kors (KORS +1%), Ralph Lauren (RL +1%), Lululemon (LULU +2.4%), Luxottica (LUX +2.2%), Kate Spade (KATE +1.3%), Burberry (OTCPK:BURBY +2.1%).
Thu, Jul. 23, 11:47 AM
- Select retail stocks are outperforming the broad stock market and retail ETFs which are mostly pointing negative.
- Retail outliers today include Lululemon (LULU +1.3%), Gap (GPS +1.7%), Kate Spade (KATE +2%), and Abercrombie & Fitch (NYSE:ANF) with a 1.1% gain.
- Under Armour (UA +8.3%) is in a league all of its own after an earnings smash.
- Previously: Strong growth across the board at Under Armour (Jul. 23 2015)
Tue, Jul. 21, 9:26 AM
- Kate Spade (NYSE:KATE) has signed new deals to help it accelerate its transition into a global lifestyle brand.
- The company will partner with Beyond Yoga to jump into the athleisure category and will introduce new children's collections.
- A licensing deal with Carole Hochman will cover sleepwear and loungewear.
- The pivot from Kate Spade is due in part to some bumps in the road in the high-end handbag business.
- Shares of Kate Spade are down 36% YTD amid a painful trend for the handbag sector (Coach -16%, Michael Kors -47%, Vera Bradley -45%).
Mon, Jul. 20, 1:38 PM
- A bold forecast from Cowen Research on Amazon has some deep implications for the broad retail sector if it proves accurate.
- Cowen sees Amazon nabbing 14% of the U.S. apparel and accessories market by 2020, up from ~5% this year.
- The Amazon Effect impacts retail companies differently depending on if they sell their brands on the Amazon website and at what prices. Chains that could see an impact from a higher level of apparel buying through Amazon include Macy's (NYSE:M), Dillard's (NYSE:DDS), J.C. Penney (NYSE:JCP), Aeropostale (NYSE:ARO), Abercrombie & Fitch (NYSE:ANF), L Brands (NYSE:LB), Kohl's (NYSE:KSS), Pacific Sunwear (NASDAQ:PSUN), and Zumiez (NASDAQ:ZUMZ). The trend also puts high-end sellers such as Kate Spade (NYSE:KATE) and Michael Kors (NYSE:KORS) in a tighter box on how to sell through Amazon.
- A disturbing trend for Wal-Mart (NYSE:WMT) and Target (NYSE:TGT) is that a higher percentage of their customers also bought apparel through Amazon in the first half of 2015.
Thu, Jul. 16, 10:12 AM
- Some popular momentum-driven retail stocks are starting off the day in reverse with Michael Kors (KORS -2.7%), Coach (COH -0.2%), Pacific Sunwear (PSUN -1.9%), Vera Bradley (VRA -3.3%), Fossil (FOSL -0.6%), Lululemon (LULU -0.6%), Kate Spade (KATE -0.4%) and Under Armour (UA -3.5%) all lower.
- While OTR Global is with a fresh note on UA and KORS in which expectations are reeled in, pricing trends and China are also looming over the sector.
Fri, Jul. 10, 9:00 AM
- Kate Spade (NYSE:KATE) is higher in early trading as investors stay focused on the retail stock after yesterday's double-digit pop.
- Cleveland Research lit the torch by calling out Kate as only being in the "early-to-mid" stages of its growth cycle as its brand name becomes more well-known with consumers.
- The boutique investment firm thinks KS has multiple distribution channels it can utilize to help drive sales.
- Previously: Kate Spade bounces back (Jul. 09 2015)
- KATE +6.29% to $23.65 vs. the 52-week trading range of $19.90-$42.87.
Thu, Jul. 9, 10:16 AM
- Kate Spade (NYSE:KATE) is up 7.2% on strong volume after Cleveland Research upgrades to a Buy rating.
- Some analysts have pointed to the retail stock as one which has overreacted in the past to developments in China.
- Kate Spade is partnering with Walton Brown on new ventures in China.
- KATE -33.4% YTD.
Tue, Jun. 30, 11:21 AM
- The luxury handbag trade is having a down day as concerns on F/X and pricing pressure in North America impact sentiment.
- Kate Spade (KATE -2.7%), Coach (COH -1.5%), Michael Kors (KORS -2.9%), and Vera Bradley (VRA -0.8%) are all lower.
- Cowen Research is out with a detailed report on the handbag market in which it warns the increase of consumer spending on athleisure could be chipping away at handbag demand.
Wed, May 27, 1:28 PM
Wed, May 27, 10:07 AM
- Select high-end retailers are trading weaker after reports from Michael Kors and Movado rattle the sector.
- Though Tiffany is ripping up a double-digit gain on the day, analysts note the earnings beat came off of a lowered bar.
- Decliners: Fossil (NASDAQ:FOSL) -5.3%, Kate Spade (NYSE:KATE) -1.9%, Vera Bradley (NASDAQ:VRA) -1.9%, Tum Huldings (NYSE:TUMI) -1.0%, Guess (NYSE:GES) -0.3%, Coach -5.5%.
- The PowerShares Dynamic Leisure and Entertainment ETF (NYSEARCA:PEJ) is slightly trailing broader market averages.
- Previously: F/X clips results at Movado
- Previously: Light guidance from Michael Kors
Thu, May 7, 8:27 AM
- Kate Spade (NYSE:KATE) reports direct-to-consumer comparable sales were up 9% in Q1.
- International sales +18% to $47M.
- Gross profit rate -60 bps to 60.6%.
- Operating loss rate -250 bps to -14.5%.
- SG&A expense rate +190 bps to 73.2%.
- The company ended the quarter with inventory of $182.50M and average retail square footage of 89K (+23% Y/Y).
- KATE -0.2% premarket.
- Previously: Kate Spade signs distribution deal for Latin America
- Previously: Kate Spade misses by $0.01, beats on revenue
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