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%).
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.
- ETFs: IYK, PEJ, IYC, SCC, UGE, SZK, XLY, XRT, VCR, RTH, RETL, FXD, FDIS, RCD, PMR
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.
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)
Wed, Oct. 21, 4:51 PM
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%.
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).
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.
Tue, Aug. 11, 10:00 AM
- The currency devaluation fired off in China is hitting select consumer goods and services stocks.
- China Southern Airlines (ZNH -18.2%) and China Eastern Airlines (CEA -17.4%) are feeling the sharpest impact.
- Macau gaming stocks trade weaker with Melco Crown (MPEL -2.7%), Las Vegas Sands (LVS -2%), Wynn Resorts (WYNN -3.1%), and MGM Resorts (MGM -0.8%) all lower.
- Luxury retailers are also feeling a pinch due to the F/X headache. Decliners include Tiffany (TIF -2.1%), Ralph Lauren (RL -1.3%), Gucci (OTC:PPRUF, OTCPK:PPRUY), Prada (OTCPK:PRDSF), Hermes (OTCPK:HESAF), Fossil (FOSL -1.5%), Michael Kors (KORS -0.6%), Coach (COH -1.7%), Movado (MOV -1.8%), Kering (OTC:PPRUF), Burberry (OTCPK:BURBY), and Swatch (OTCPK:SWGAY -5.4%).
Thu, Aug. 6, 9:15 AM
Thu, Aug. 6, 7:19 AM
- Michael Kors (NYSE:KORS) reports sales were up 13.4% on a constant currency basis in FQ1.
- Retail net sales were up 9% to $523M (+16% constant currency).
- Wholesale sales rose 4.2% to $424M (+9.7% constant currency).
- Licensing revenue +20.5% to $38.7M.
- Sales in Europe were up 17% to $217M (+42% constant currency).
- Gross profit rate -100 bps to 61.2% as F/X swings played in.
- Operating margin fell 490 bps to 25.2%, driven lower by the retail segment.
- Guidance: Michael Kors sees FQ2 revenue of $1.06B-$1.08B vs. $1.11B consensus.
- Previously: Michael Kors Holdings beats by $0.12, beats on revenue
- KORS +6.61% premarket to $42.10.
Thu, Aug. 6, 7:05 AM
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, 12:47 PM
Wed, May 27, 9:18 AM
Wed, May 27, 7:14 AM
- Michael Kors (NYSE:KORS) reports revenue rose 23.3% in FQ4 on a constant currency basis.
- Revenue in North America was up 13.7% to $840.5M during the quarter off a -6.7% comp.
- Revenue in Europe rose 33.5% to $219.8M.
- Gross profit rate -150 bps to 58.4%.
- Guidance: FQ1 revenue of $930M to $950M expected vs. $1.09B consensus.
- Previously: Michael Kors Holdings misses by $0.01, revenue in-line
- KORS +0.51% premarket.
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