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Michael Kors Holdings (KORS)

  • Wed, May 13, 10:15 AM
    • Weak guidance issued from Ralph Lauren (RL -2.2%) is having a ripple effect on some high-end retail stocks.
    • Issues with merchandising, F/X pressure, and lower demand from international tourism pestered Ralph Lauren in Q1 and could continue to be a theme looking forward.
    • Previously: Polo Ralph Lauren beats by $0.09, beats on revenue (May. 13 2015)
    • Previously: More on Ralph Lauren's FQ4 (May. 13 2015)
    • Michael Kors (KORS -1.3%), Coach (COH -0.4%), Movado (MOV -0.5%), Fossil (FOSL -1.7%), and Vera Bradley (VRA -0.3%) are all lower than market averages.
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  • Mon, Apr. 20, 12:10 PM
    • Research firm Global Blue says Chinese tourists increased their luxury spending by 67% in Q1.
    • High-end retailers with stores in Europe received a good portion of the sales after a weak euro attracted tourists to buy in the region over Hong Kong.
    • Last year, Chinese tourists increased spending by 18%.
    • A reselling trend in China has accounted for some of the brisk growth, while also pressuring prices for luxury brands in China.
    • Luxury retailers: Gucci (OTC:PPRUF, OTCPK:PPRUY), Louis Vuitton (OTCPK:LVMUY), Coach (NYSE:COH), Ralph Lauren (NYSE:RL), Michael Kors (NYSE:KORS), Burberry (OTCPK:BURBY), Tiffany (NYSE:TIF), LVMH (OTCPK:LVMHF, OTCPK:LVMUY), Richemont (OTCPK:CFRUY, OTCPK:CFRHF), Remy Cointreau (OTCPK:REMYF, OTCPK:REMYY)
  • Wed, Apr. 15, 1:13 PM
    • Piper Jaffray corralled over 6K teenagers to take a pulse on the consumer spending trends of the demographic.
    • The group had a slightly higher rate of part-time employment than a year ago and continued to show a strong preference for online shopping.
    • Standouts brands with teenagers include Lululemon (NASDAQ:LULU), MAC Cosmetics (NYSE:EL), Victoria's Secret (NYSE:LB), Nike (NYSE:NKE), Ralph Lauren (NYSE:RL), Urban Outfitters (NASDAQ:URBN), privately-held Forever 21, and Michael Kors (NYSE:KORS).
    • Vineyard Vines continues to be a teen favorite as it slices off a larger piece of the teen spending pie. The privately-held company is up to 48 stores and 97 retail locations.
    • Department store chains didn't resonate particularly with the teenager crowd in the Piper survey.
  • Tue, Apr. 14, 7:51 AM
    • Luxury spending in Europe appears to be on the rise, notes retail watcher Rahul Sharma.
    • The analyst notes Audi, BMW, and Mercedes-Benz all posted March sales records.
    • Yesterday, LVMH (OTCPK:LVMHF, OTCPK:LVMUY) reported sales increased 16% to €8.3B $8.8B (+3% ex-currency) in Q1 off of a tough comparable period. Sales for the selective retailing category were up 20% Y/Y.
    • The trend could set up well for Tiffany (NYSE:TIF), Ralph Lauren (NYSE:RL), Coach (NYSE:COH), Michael Kors (NYSE:KORS), Hermes (OTCPK:HESAF, OTCPK:HESAY), and Richemont (OTCPK:CFRUY, OTCPK:CFRHF) which have suffered a bit with Chinese tourism to Europe down.
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  • Tue, Apr. 7, 2:47 PM
    • Global clothing stocks are outperforming broad market averages on the day.
    • There was some positive commentary out early from Credit Agricole which may have set up the sector for some bids.
    • Demand has been improved of late in some Asian markets, while F/X challenges continue to be a large drag for some sellers.
    • On the expense side, cotton prices are 28% below the level of a year ago.
    • Gainers: Lululemon (LULU +4.2%), Sequential Brands Group (SQBG +6.8%), PVH Corp. (PVH +1.6%), Iconix Brand Group (ICON +1.2%), Ralph Lauren (RL +1.3%), G-III Apparel (GIII +2.1%), Michael Kors (KORS +2%).
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  • Wed, Apr. 1, 9:21 AM
    • Piper Jaffray downgrades Michael Kors (NYSE:KORS) to Neutral from Overweight.
    • Concerns on the retailer's North American comparable-store sales growth are voiced.
    • The investment firm takes its price target on MK down to $70 from $89.
    • KORS -2.28% premarket.
  • Thu, Mar. 19, 8:01 AM
    • Chanel and Tag Heuer (OTCPK:LVMHF) have lowered prices in China due in part to the weakened state of the euro.
    • Some of the price cuts are being seen in other Asia countries as well.
    • The pricing power of luxury brands in China is expected to remain under pressure, although not all companies are expected to follow the lead of Chanel and Tag Heuer with price cuts not in their DNA.
    • A Bloomberg TV report showed very long lines at Chanel stores today.
    • China luxury sellers: Gucci (OTC:PPRUF, OTCPK:PPRUY), Prada, Louis Vuitton (OTCPK:LVMUY), Coach (NYSE:COH), Ralph Lauren (NYSE:RL), Michael Kors (NYSE:KORS), Swatch (OTCPK:SWGAY), Burberry (OTCPK:BURBY), Tiffany (NYSE:TIF).
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  • Tue, Mar. 10, 3:47 PM
    • The co-inventor of Swatch is a bit bearish on the prospect for the Swiss watch industry after taking in the Apple event yesterday.
    • "I do expect an Ice Age coming toward us," said Elmar Mock.
    • "We’ve seen a lot of arrogance in the Swiss watch industry in the past few years, calling the smartwatch a gadget and not taking it seriously," he goes on.
    • Most retail analysts are calling for a smaller impact to the industry from the presence of Apple.
    • Previously: Apple sets Watch prices; pre-orders start on April 10 (March 9)
    • Related stocks: Movado (NYSE:MOV), Fossil (NASDAQ:FOSL), Swatch (OTCPK:SWGAY), Tiffany (NYSE:TIF), Richemont (OTCPK:CFRUY), LVMH Moet Hennessy (OTCPK:LVMHF), Hermes (OTCPK:HESAF), Michael Kors (NYSE:KORS).
  • Tue, Mar. 10, 7:42 AM
    • Extensive damage from a roof collapse at warehouse in Ohio that fulfills online orders for Michael Kors (NYSE:KORS) is having an impact on the company's e-commerce business.
    • Customers on the Michael Kors website are reported to be offered a 15% discount if they choose to have merchandise shipped directly from some stores.
    • Piper Jaffray says three weeks of downtime at the warehouse could cut into Michael Kors' revenue by $10M and EPS by $0.02.
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  • Mon, Mar. 9, 9:41 AM
    • Michael Kors (KORS -2%) come out of the gate slow as concerns on global luxury demand and foreign currency translation remain in the backdrop.
    • A lowered price target ($72 from $76) on the company from Sterne Agee may also be factoring in.
    • Shares set a 52-week low of $64.01 in opening trades.
  • Wed, Mar. 4, 7:31 AM
    • Luxury sales in Macau were off 20% to 30% for the Chinese New Year holiday period, according to local reports.
    • The slide in luxury sales is tied to a crackdown by the Chinese government on corruption which cut into VIP traffic into the gaming mecca.
    • The read on Macau doesn't bode well for luxury sales in Hong Kong during Chinese New Year. Sales in Hong Kong were already a concern due to the political unrest in the region.
    • Related: Chinese New Year no cure for Macau gaming slide (Mar. 03 2015)
    • China luxury sellers: Gucci (OTC:GUCG), Prada, Louis Vuitton (OTCPK:LVMUY), Coach (NYSE:COH), Ralph Lauren (NYSE:RL), Michael Kors (NYSE:KORS), Swatch (OTCPK:SWGAY), Burberry (OTCPK:BURBY), Tiffany (NYSE:TIF).
    | 1 Comment
  • Tue, Feb. 24, 1:08 PM
    • Projections on the sales of Apple Watches this year now range as high as 20M, according to Women's Wear Daily.
    • The increased sales forecast has some watch companies scrambling to introduce smartwatches of their own.
    • What to watch in the watch market: Analysts think the high-end of the fashion watch segment is most at risk to share loss. In the luxury segment, although brands might feel pressure at the opening price points, the Apple Watch shouldn't be a significant factor at the highest pricing levels.
    • Related stocks: Movado (NYSE:MOV), Fossil (NASDAQ:FOSL), Swatch (OTCPK:SWGAY), Tiffany (NYSE:TIF), Richemont (OTCPK:CFRUY), LVMH Moet Hennessy (OTCPK:LVMHF), Hermes (OTCPK:HESAF), Michael Kors (NYSE:KORS).
  • Mon, Feb. 23, 12:07 PM
    • Among the additions to the index (which fuels the IBLN ETF) are EMC, Google (GOOG, GOOGL), Goodyear (NASDAQ:GT), Mohawk Industries (NYSE:MHK), PVH, Time Warner (NYSE:TWX), and Yahoo (NASDAQ:YHOO). There are three health care additions as well: Allergan (NYSE:AGN), Amgen (NASDAQ:AMGN), and HCA. The lone energy name added is Consol Energy (NYSE:CNX).
    • Exiting the index are energy names Halliburton (NYSE:HAL) and National-Oilwell Varco (NYSE:NOV), along with healthcare companies AbbVie (NYSE:ABBV), Aetna (NYSE:AET), Humana (NYSE:HUM), and Tenet Healthcare (NYSE:THC). Citigroup (NYSE:C), CBS, Crown Castle (NYSE:CCI), and Michael Kors (NYSE:KORS) round out those subtracted.
    • IBLN tracks the highest-conviction S&P 500 picks by hot-handed billionaires who built their fortunes through hedge funds and investing. The list of billionaires tracked is updated each October, and the equity components are rebalanced each quarter after sifting through regulatory filings.
    • IBillionaire Index Rebalance
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  • Fri, Feb. 13, 12:03 PM
    • Select luxury stocks are out-performing market averages.
    • A couple of analyst upgrades this week and some volume gains for global sellers against F/X headwinds have helped to lift sentiment.
    • Gainers: Michael Kors (NYSE:KORS) +2.2%, Coach (NYSE:COH) +1.1%, Estee Lauder (NYSE:EL) +1.5%, Tumi Holdings (NYSE:TUMI) +1.8%, Avond Products (NYSE:AVP) +3.7%, Revlon (NYSE:REV) +1.1%,
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  • Wed, Feb. 11, 2:23 PM
    • A new store opened last week by Michael Kors (KORS) in the SoHo neighborhood of New York City features menswear and footwear products.
    • Execs with the company indicate a wide roll-out of the men's-only retail concept is possible.
    • Michael Kors grew retail sales by 37% in Q4, but a return to a single-digit comp rate threw investors a wrinkle.
    • KORS trades ~29.5% off its 52-week high.
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  • Thu, Feb. 5, 2:50 PM
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Company Description
Michael Kors Holdings Ltd 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