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Michael Kors Holdings (KORS)

  • Yesterday, 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.
    | Yesterday, 9:28 AM | 9 Comments
  • 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%).
    | Mon, Nov. 23, 12:29 PM | Comment!
  • Fri, Nov. 13, 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.
    | Fri, Nov. 13, 1:09 PM | 19 Comments
  • Wed, Nov. 11, 9:28 AM
    | Wed, Nov. 11, 9:28 AM | 4 Comments
  • Tue, Nov. 10, 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.
    | Tue, Nov. 10, 8:31 PM | 5 Comments
  • Wed, Nov. 4, 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.
    | Wed, Nov. 4, 7:08 AM | 13 Comments
  • Wed, Nov. 4, 7:00 AM
    • Michael Kors Holdings (NYSE:KORS): FQ2 EPS of $1.01 beats by $0.12.
    • Revenue of $1.13B (+6.6% Y/Y) beats by $50M.
    • Press Release
    | Wed, Nov. 4, 7:00 AM | 6 Comments
  • Tue, Nov. 3, 5:30 PM
  • 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)
    | Tue, Oct. 27, 9:43 AM | 1 Comment
  • Wed, Oct. 21, 4:51 PM
    • David Einhorn's Greenlight Capital has taken a position in luxury apparel retailer Michael Kors (NYSE:KORS).
    • Kors has risen to $40.40 in after hours trading. Einhorn's disclosure comes with shares far below a 52-week high of $79.70.
    | Wed, Oct. 21, 4:51 PM | 8 Comments
  • Thu, Oct. 8, 10:20 AM
    • The apparel sector is out-gaining market averages as sentiment swings positive. There's been some analysis suggesting that apparel sellers will benefit from the Trans-Pacific Partnership on the cost side. Lower cotton and oil prices are also working in the favor of apparel companies, although hedging against the strong U.S. dollar is an ongoing risk.
    • On the manufacturing side: G-III Apparel (NASDAQ:GIII) +2.6%, Columbia Sportswear (NASDAQ:COLM) +2.1%, Michael Kors (NYSE:KORS) +1.8%, PVH Corp. (NYSE:PVH) +1.6%, Ralph Lauren (NYSE:RL) +1.4%.
    • On the chain store side: Cato (NYSE:CATO) +5.1%, Ascena Retail (NASDAQ:ASNA) +3.4%, American Eagle Outfitters (NYSE:AEO) +3.4%, Abercrombie & Fitch (NYSE:ANF) +3.1%, Francesca's Holdings (NASDAQ:FRAN) +2.6%, L Brands (NYSE:LB) +2.1%.
    | Thu, Oct. 8, 10:20 AM | 1 Comment
  • Wed, Oct. 7, 2:48 PM
    • Michael Kors (KORS -2.1%) and J.C. Penney (JCP -4.4%) both trade lower after the two stocks ended up on the bottom of Citigroup's list of favorites in the specialty retail and department store sectors.
    • Michael Kors was initiated with a Sell rating and $38 price target (~11% downside).
    • Citi coverage on J.C. Penney started off with a Sell rating and $7 price target (~25% downside).
    | Wed, Oct. 7, 2:48 PM | 15 Comments
  • Tue, Sep. 1, 6:44 PM
    • Cathy Marie Robinson, Michael Kors' (NYSE:KORS) SVP of global operations since May 2014, has withdrawn her resignation (first disclosed on Aug. 11). She has been "re-appointed as an executive officer of the Company with the new title of 'Senior Vice President of Corporate Strategy and Chief Operations Officer'. (8-K filing)
    • To go with her promotion, Robinson will receive $1.5M worth of restricted stock units.
    | Tue, Sep. 1, 6:44 PM | 10 Comments
  • Thu, Aug. 27, 10:37 AM
    • Retail all-stars are firing back up the momentum engine as sentiment improves on global and U.S. growth.
    • Michael Kors (KORS +4.5%), Lululemon (LULU +4.1%), and Under Armour (UA +4%) are all well in front of market averages. The trio has shown above-average volatility over the last two weeks as concerns on consumer spending trends in the U.S. and demand in Asia have cropped up.
    | Thu, Aug. 27, 10:37 AM | 1 Comment
  • 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.
    | Fri, Aug. 21, 10:06 AM | 4 Comments
  • 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. 19, 12:39 PM | Comment!
Company Description
Michael Kors Holdings Ltd is a designer, marketer, distributor and retailer of women's apparel and accessories and men's apparel. The Company's business consists of retail, wholesale and licensing segments.
Sector: Services
Industry: Apparel Stores
Country: Hong Kong