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.
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.
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)
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.
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
Tue, Mar. 31, 9:59 AM
- A better-than-expected report from Movado is giving a lift to some luxury peers.
- Fossil (FOSL +1%), Coach (COH +0.5%), and Kate Spade (KATE +0.2%) are all higher on a down day in the markets.
- Movado was able to take some measures to mitigate the impact of F/X swings.
- Previously: Movado rips 8% gain after guidance pleases
Mon, Mar. 9, 3:15 PM
- More selling pressure on Kate Spade (KATE -2.6%) has pushed shares below $32.
- The stock has lost close to 11% since the middle part of Wednesday.
- Some retail analysts think Kate has been hit too hard by broader F/X concerns over the luxury sector.
- Due to its scale, Kate Spade is a little bit more nimble than peers.
- Cowen Research lumps Kate Space into the group of retailers that it sees benefiting from lower gas prices and unemployment - a distinction not made by all.
Wed, Mar. 4, 9:22 AM
- Kate Spade (NYSE:KATE) plans to make an aggressive push into home goods and furniture through new licensing agreements.
- "The breadth of our home décor line will feature products at all access points in both pricing and distribution from an $8 notebook to an $8,000 piece of furniture," disclosed CEO Craig Leavitt during the earnings call yesterday.
- Kate Spade earnings call
- KATE -1.0% premarket to $34.23.
Tue, Mar. 3, 2:04 PM
- Kate Spade (KATE -2.4%) trades lower following a soft read on margins for 2015 amid F/X pressure in Japan, although the drop is roughly in-line with other luxury stocks which are having a rough day.
- The company's 2015 revenue guidance of $1.2B-$1.275B fell short of the $1.28B that analysts expected.
- During the earnings call, execs reiterated that a measured approach to promotional activity will be the plan this year. Flash sales and either margin-crunching initiatives are likely to be reduced.
- Kids clothing and fragrances are two categories where the company sees sales growth and potential distribution deals.
- Earnings call transcript
- Previously: Kate Spade misses by $0.04, beats on revenue
- Previously: More on Kate Spade's Q4
Tue, Mar. 3, 8:36 AM
- Kate Spade (NYSE:KATE) reports comparable direct-to-consumer sales rose 28% in Q4.
- Segment revenue growth: Kate Spade North America +50.5% to $326.75M; Kate Spade International 56% to $60.07M, Adelington Design Group -40.5% to $11.76M.
- Gross profit rate -380 bps to 57.8%.
- Adjusted operating margin rate declined 179 bps to 13.32%.
- SG&A expenses +33% to $18.77M.
- FY2015 Guidance: Net sales: $1.2B to $1.275B; Adjusted EBITDA: $185M to $200M; DTC comparable sales growth: high single digits; D&A: $50M to $55M; Capex: ~$75M; Interest expense: $18M to $22M; Normalized tax rate: 38% to 40%; Basic share count: ~128M; New store openings: 50 to 55.
- KATE +1.98% premarket
Mon, Mar. 2, 3:24 PM
- Shares of Kate Spade (KATE +1.7%) head into earnings day tomorrow with a head of steam.
- Analysts expect the company to Q4 revenue of $389.7M and EPS of $0.27. The crowd as Estimize is at $391M and $0.26.
- The earnings call will be key with execs likely to be questioned on the brand shifting strategies which were recently announced and the impact from the West Coast port slowdown.
- Previously: Kate Spade +7.6% after brand repositioning and guidance update (Jan. 29 2015)
Thu, Jan. 29, 9:12 AM
Thu, Jan. 29, 8:42 AM
- Kate Spade (NYSE:KATE) issues preliminary results for full-year 2014.
- A sales pop of over 40% to $1.13B-$1.14b expected.
- Adjusted EBITDA of $145M-$150M forecast.
- 2015 guidance: Net sales in a range of $1.2B-$1.275B; direct comp sales growth in high single digits; adjusted EBITDA of $185M-$200M.
- Brand reset: The company says it will roll the Kate Spade Saturday brand into Kate Spade New York and give new marching orders to Jack Spade.
- Previously: Kate Spade sets strategy in China
- KATE +7.6% to $32.07 premarket.
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