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Tue, Feb. 2, 12:47 PM
Tue, Feb. 2, 10:21 AM
- Strength shown by Michael Kors (KORS +16.1%) in digital channels, Japan, and across much of Europe isn't going unnoticed in the apparel sector.
- G-III Apparel (GIII 1.4%), PVH Corp (PVH +3.2%), Vera Bradley (VRA +5%), Fossil (FOSL +1.8%), Lululemon (LULU +2.5%), Kate Spade (KATE +1.1%), and Movado (MOV +0.5%) are all higher on a day broad market averages are wilting.
- Previously: Michael Kors Holdings beats by $0.13, beats on revenue (Feb. 2)
- Previously: Michael Kors soars after earnings shine (Feb. 2)
Tue, Feb. 2, 9:17 AM| Tue, Feb. 2, 9:17 AM | 5 Comments
Tue, Feb. 2, 7:28 AM
- Michael Kors (NYSE:KORS) jets higher in early trading after FQ3 earnings top expectations.
- Total revenue was up 9.9% on a constant currency basis during the quarter and comparable-store sales were up 2%.
- The company's gross margin rate fell 140 bps to 59.5%,due chiefly to F/X swings.
- Guidance: Michael Kors expects Q4 revenue of $1.13B to $1.15B and EPS of $0.93 to $0.97 vs. $1.00 consensus. The full-year outlook is for sales of $4.65B and EPS of $4.38 to $4.42 vs. $4.33 consensus.
- Previously: Michael Kors Holdings beats by $0.13, beats on revenue (Feb. 2)
- KORS +13.5% premarket to $45.89.
Tue, Feb. 2, 7:09 AM
Mon, Feb. 1, 5:30 PM
Tue, Jan. 26, 3:04 PM
- Coach (COH +10.3%) is up 10% after a penny beat over consensus Q4 earnings estimates.
- Movado (MOV +5.1%), Kate Spade (KATE +2.9%), Michael Kors (KORS +2.9%), and Vera Bradley (VRA +1.4%) are all higher after the Coach print, although some traders are expressing caution.
- Coach's sales growth was driven largely by the recently-acquired Stuart Weitzman brand, not handbags, and the company warned on the level of promotional activity with handbag sellers.
- Previously: Coach beats by $0.01, misses on revenue (Jan. 26 2016)
- Previously: Coach higher after results and guidance satisfy investors (Jan. 26 2016)
Tue, Jan. 19, 9:35 AM
- Michael Kors (KORS +0.9%) is higher after Piper Jaffray moves the retail stock to a Neutral rating from Underweight.
- The investment firm thinks MK will show a sequential improvement in comparable-store sales growth.
- Michael Kors reports FQ3 earnings on February 2. SA contributor Collective Investment has an early earnings preview.
Sat, Jan. 9, 10:47 AM
- The success of the retail sector during the holiday season came into focus after a number of chains issued their holiday sales reports last week and research firms weighed in with data-driven analysis.
- Lesson #1 - Early and late: 25% of all shoppers purchased a Christmas present before Halloween, while the Black Friday to Cyber Monday period disappointed. A late flurry of shopping was a boon for many large retail chains, as well as Amazon (NASDAQ:AMZN), FedEx (NYSE:FDX), and UPS (NYSE:UPS). Trading around anecdotal reports of Black Friday traffic now looks like an exercise in futility.
- Lesson #2 - Women over men: Sales of women's apparel were strong during the two-month period, up 10%, while demand for men's apparel tailed off significantly. A microcosm of the trend is the +8% comp reported by L Brands (NYSE:LB) - while The Men's Wearhouse (NYSE:MW) is in a -72% 3-month funk. The disastrous performance in the electronics category (BBY, CONN, HGG) reinforces the trend.
- Lesson #3 - The sweet spot of retail was in the middle: Luxury sellers (COH, KORS, RL, TIF) had a weak holiday season as F/X challenges and lackluster Asian tourism factored in, while discounters also were scrambling due to a high level of promotional activity. The $2-gas benefit seemed to help in the middle where Costco (NASDAQ:COST), Target (NYSE:TGT), Ross Stores (NASDAQ:ROST), TJX Companies (NYSE:TJX), and The Children's Place (NASDAQ:PLCE) set up shop.
- Lesson #4 - No slowdown in online : Holiday online sales rose 20% Y/Y. Brands such as Ulta Salon (NASDAQ:ULTA) and Victoria's Secret that sell easily through e-commerce channels are well-positioned to benefit from the trend, although for a large part of the apparel sector the e-commerce mix is a margin cruncher. Just ask Gap (NYSE:GPS), Urban Outfitters (NASDAQ:URBN), and American Eagle Outfitters (NYSE:AEO).
- Sources: Planalytics.com, Chain Store Age, company holiday sales reports
Dec. 22, 2015, 9:14 AM
- Sales of fashionable winter/snow boots are up 21% year-over-year this season, according to NPD Group data.
- The dramatic sales growth for women's boots stands in sharp contrast to the weak sales seen across most winter apparel categories due to the warm weather pattern in the U.S.
- Fashion brands that may have a piece of the fashion boot action include Hunter, Frye (OTC:GLBRF), Michael Kors (NYSE:KORS), and Timberland (NYSE:VFC).
Nov. 30, 2015, 9:28 AM
- Retail stocks to watch for some Cyber Monday volatility include Under Armour (NYSE:UA), Deckers Outdoor (NYSE:DECK), Steven Madden (NASDAQ:SHOO), GoPro (NASDAQ:GPRO), Michael Kors (NYSE:KORS), and Ralph Lauren (NYSE:RL).
- While some reports on low traffic at malls are a factor, a bigger consideration are the channel checks conducted by several firms showing some intense pricing competition in key apparel categories. Analysts also note the higher mix of toy purchases online - particularly those tied to the new Star Wars film - is a consideration for Hasbro (NASDAQ:HAS), Mattel (NASDAQ:MAT), and Target (NYSE:TGT).
- On the e-commerce front, Amazon (NASDAQ:AMZN) appears to have been firing on all cylinders ahead of Cyber Monday. Same-store sales are estimated to have been up 29% on Thanksgiving, 21% on Black Friday, and 21% on Cyber Saturday. EBay (NASDAQ:EBAY) outpaced broad retail, but registered more modest gains of 7.0%, 1.5%, and 3.6% for the three key shopping days.
Nov. 23, 2015, 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%).
Nov. 13, 2015, 1:09 PM
- Retailers are under pressure after the Census Bureau reported October retail sales rose 0.1% M/M, and core retail sales 0.2%. Consensus was respectively 0.3% and 0.4%.
- Also: J.C. Penney is down 13.6% in spite of posting a Q3 beat and reiterating its full-year same-store growth guidance, and Nordstrom is down 15.4% after missing FQ3 estimates and cutting its FY16 guidance.
- In addition to Target, TJX, Macy's, and Kohl's (previously covered), notable decliners include Ross (ROST -5.7%), Skechers (SKX -3.9%), Michael Kors (KORS -4.8%), Deckers (DECK -4.2%), Gap (GPS -4.1%), Ascena Retail (ASNA -4.6%), American Eagle (AEO -4.5%), Urban Outfitters (URBN -4.8%), Stein Mart (SMRT -5.4%), Citi Trends (CTRN -4.4%), Guess (GES -5.9%), Abercrombie & Fitch (ANF -5.7%), Chico's FAS (CHS -4.3%), and New York & Company (NWY -6%).
- Retail stocks were also under pressure on Wednesday after Macy's cut its 2015 guidance.
- ETFs: IYK, PEJ, IYC, SCC, UGE, SZK, XLY, XRT, VCR, RTH, RETL, FXD, FDIS, RCD, PMR
Nov. 11, 2015, 9:28 AM
- A warning by Macy's on having trouble clearing out inventory at U.S. stores could have a negative impact on major suppliers. The soft demand reported by Macy's leading into the holiday season has also been seen at other high-volume selling channels.
- The list of major Macy's apparel suppliers includes Ralph Lauren (NYSE:RL), Calvin Klein (NYSE:PVH), Michael Kors (NYSE:KORS), Estee Lauder (NYSE:EL), Carter's (NYSE:CRI), and Nautica (NYSE:VFC). A scan of the Macy's website shows plenty of promotions for those brands.
- Previously: Retailers eye inventory levels with Black Friday 17 days away (Nov. 10 2015)
- Previously: Department store sector on watch after Macy's warns (Nov. 11 2015)
- Previously: Macy's lower after U.S. sales slump and nixing REIT (Nov. 11 2015)
Nov. 10, 2015, 8:31 PM
- The headaches continue for a large part of the retail sector impacted by a slower pace of sales than anticipated this fall.
- Warmer weather than normal have held back outerwear and winter clothing demand, while mall traffic continues to be underwhelming.
- The high level of unsold inventory on shelves at retail chains is likely to lead to more promotions and discounts heading into the crucial Black Friday period, observes the WSJ. That trend could hurt manufacturers and sellers alike.
- Related ETFs: XLY, XRT, VCR, RTH, RETL, IYK, FXD, PEJ, FDIS, RCD, PMR, UGE, SZK.
- Related stocks: FL, FINL, KORS, COH, DSW, DKS, SKX, JCP, M, SHLD, KSS, JWN, TJX, ROST, BONT, AEO, ANF, ARO, CAL, CROX, SMRT, BKE, CTRN, GPS, LB, RL, PVH.
Nov. 4, 2015, 7:08 AM
- Michael Kors (NYSE:KORS) announces revenue rose 12% on a constant currency basis in FQ2.
- Retail net sales in The Americas segment increased 3.7% Y/Y to $384.86M.
- The company's gross profit rate fell 220 bps 58.8% due largely to foreign exchange swings during the quarter.
- Company-operated store count +116 Y/Y to 589 retail stores. 215 licensed stores are in operation.
- Guidance: MK expects FQ3 revenue of $1.33B to $1.35B and EPS of $1.44 to $1.48 vs $1.53 consensus. Full-year revenue of $4.60B to $4.65B seen.
- Previously: Michael Kors Holdings beats by $0.12, beats on revenue (Nov. 04 2015)
- KORS +9.0% premarket to $42.86.
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