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Aug. 21, 2015, 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.
Aug. 19, 2015, 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).
Aug. 12, 2015, 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)
Aug. 11, 2015, 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.
Aug. 5, 2015, 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
Aug. 5, 2015, 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%.
Aug. 5, 2015, 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.
Aug. 5, 2015, 7:20 AM
- Kate Spade (NYSE:KATE): Q2 EPS of $0.08 misses by $0.03.
- Revenue of $281.12M (+5.7% Y/Y) misses by $11.89M.
Aug. 4, 2015, 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
Jul. 28, 2015, 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%).
Jul. 23, 2015, 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)
Jul. 21, 2015, 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%).
Jul. 20, 2015, 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.
Jul. 16, 2015, 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.
Jul. 10, 2015, 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.
Jul. 9, 2015, 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.
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