Thu, Feb. 5, 7:22 AM
- Michael Kors (NYSE:KORS) announces comparable-store sales increased by 8.6% in FQ3.
- Retail sales +37% to $689.4M during the quarter on new store growth.
- Wholesale sales +24.4% to $573.8M.
- Licensing revenue +8.6% to $51.5M.
- Gross profit rate -30 bps to 60.9%.
- Retail store count +114 Y/Y to 509. Licensed locations 194.
- A notable pullout from the report was the 73% jump in sales from the U.S. e-commerce site (self-hosted) over the retailer's previous outsourced site. If the U.S. e-commerce tally was included in the comp total, Michael Kors would have put up a +10% comp.
- Guidance: FY15 revenue of $1.05B-$1.08B expected vs. $1.15B consensus. EPS of $0.80-$0.92 seen vs. $0.94 consensus.
- Previously: Michael Kors Holdings beats by $0.15, beats on revenue
- KORS -8.6% premarket.
Thu, Feb. 5, 7:01 AM| 5 Comments
Wed, Feb. 4, 5:30 PM
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Wed, Feb. 4, 9:47 AM
- An earnings miss and weak guidance issued from Ralph Lauren today appears to be clipping shares prices in the global apparel sector.
- The harsh impact of converting international sales back to U.S. dollars was highlighted today by Ralph Lauren's numbers.
- Lifestyle brands are getting hit the hardest.
- Previously: Polo Ralph Lauren misses by $0.09, misses on revenue
- Previously: Ralph Lauren -6.4% as strong dollar whacks results
- Decliners: PVH Corp. (NYSE:PVH) -4.7%, Sequential Brands (NASDAQ:SQBG) -2.5%, Michael Kors (NYSE:KORS) -1.6%, VF Corp (NYSE:VFC) -1.8%, Perry Ellis (NASDAQ:PERY) -0.9%, G-III Apparel (NASDAQ:GIII) -1.4%, Fossil (NASDAQ:FOSL) -3.3%, Vera Bradley (NASDAQ:VRA) -1.0%.
Fri, Jan. 23, 7:03 AM
Wed, Jan. 21, 9:59 AM| 6 Comments
Fri, Jan. 9, 11:04 AM
- Another tough day for luxury retail stocks as more concerns on pricing trends build up.
- Consulting firm Bain isn't helping sentiment, noting the luxury sector in China showed negative growth (-1%) for the first time in 2014. An ongoing crackdown by Beijing on corruption is in the background.
- Michael Kors (KORS -1.7%), Ralph Lauren (RL -2%), Kate Spade (KATE -3.2%), Fossil (FOSL -1%), Vera Bradley (VRA -2%), and Coach (COH -2.2%) are all under-performing market averages.
- Related stocks: OTCPK:LVMUY, OTC:GUCG, OTCPK:SWGAY, OTCPK:BURBY, EL, RDEN, OTCPK:HESAF, OTCPK:CFRUY, TIF.
- Related ETFs: PEJ.
Tue, Jan. 6, 9:40 AM
- Shares of Michael Kors (KORS -6.6%) turn lower after Oppenheimer downgrades the stock to Neutral from Outperform.
- The investment firm slashed the price target on shares to $79 from $103.
- The dour outlook on Michael Kors is based on a channel check which showed a high level of promotional activity for MK handbags over the last month.
- Sector news: Coach nabs Stuart Weitzman.
Dec. 23, 2014, 2:59 PM
- The strong reads on consumer spending (ICSC, Redbook) bode well for Q4 earnings in the retail sector, note analysts.
- Electronics sellers (BBY, HGG) and the luxury sector (RL, TIF, COH, KORS, KATE, FOSL, VRA) are viewed as being in a good position to see a December boost.
- Companies which eased off on pulling a bulk of their sales forward with Black Friday/Cyber Monday deals are also seen as potential winners with sub-$2 gas resetting some holiday budgets.
- Though e-commerce is expected to dazzle again this holiday season. It's not all fun and games for analysts looking at margins. The extension by Amazon (AMZN -0.1%) of its free shipping offer could be a signal that inventory levels are higher than anticipated and that the growth-at-all-costs mentality at the company is as entrenched as ever, notes Nasdaq Advisory Services.
- The S&P Retail ETF (NYSEARCA:XRT) has doubled up the return of the S&P 500 over the last 3 months, 10.8% vs. 5.1%.
- Previously: Retail trends to watch: Athleisure, P-E buyouts, and new online channels (Dec. 20 2014)
- Related ETFs: XLP, XLY, VDC,VCR, RTH, RETL, FXG, PBJ, IYK, PEJ, FXD, IYC, FDIS, RHS, SCC, FSTA, UCC, PMR, PSL, UGE, RCD, PEZ, PSCC, PSCD, SZK
Dec. 19, 2014, 1:29 PM
- Analysts expect a mixed holiday season for the retail sector in Hong Kong.
- While mass market retail is forecast to hold up with the level of demonstrations in the region moderating, there's some concerns on the luxury sector.
- The corruption crackdown by Beijing and the weak Yen are two potential drags on tourist traffic.
- Consumer confidence on the high end has also been weakening.
- What to watch: The critical Chinese New Year begins in February giving the luxury sector scant time for the environment to improve.
- Luxury sellers in HK: 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), and Tiffany (NYSE:TIF).
Dec. 18, 2014, 7:01 AM
- Apparel prices fell 1.1% in the U.S. during November, according to yesterday's CPI report.
- The drop followed a 0.2% slide in apparel prices for October.
- Retail analysts note that a higher mix of e-commerce sales and the lingering promotional haze threaten margin expansion in the sector, despite overall tighter inventory control.
- Apparel stocks: KATE, ANN, LULU, PVH, VNCE, CRI, UA, HBI, VFC, COLM, GIL, SQBG, JCP, KSS, DDS, M, JWN, RL, ARO, AEO, ANF, WTSL, TLYS, CACH, ZUMZ, PSUN, EXPR, BKE, KORS, UA, GIII, SQBG, HBI, SKX, FL, VRA, ICON, NKE, WWW, DECK, CROX, SHOO, BWS, PERY, DXLG, SHLD, BONT, GPS, GES, URBN.
Dec. 12, 2014, 10:17 AM
- The S&P Retail ETF (XRT +0.5%) is out ahead of market averages again on enthusiasm over consumer spending forecasts.
- Today it's apparel/footwear sellers and department store chains with the broad set of gains.
- Gainers: Lululemon (NASDAQ:LULU) +2.7%, Ralph Lauren (NYSE:RL) +1.0%, Under Armour (NYSE:UA) +1.1%, Sequential Brands (NASDAQ:SQBG) +0.7%, Michael Kors (NYSE:KORS) +0.5%, Coach (NYSE:COH) +2.3%, Nike (NYSE:NKE) +0.7%, Deckers Outdoor (NYSE:DECK) +1.1%, Macy's (NYSE:M) +2.4%, Sears Holdings (NASDAQ:SHLD) +1.7%, J.C. Penney (NYSE:JCP) +1.5%, Nordstrom (NYSE:JWN) +0.8%.
Dec. 4, 2014, 10:31 AM
- Shares of Destination Maternity (DEST -7.8%) slide after the company misses earnings estimates.
- A frank assessment from the company on a misfire with its assortment to millennial-aged moms-to-be strikes a bit of a chord across the apparel and department store sector.
- Many of the earnings hits and misses this quarter have been tied to on-trend or off-trend assortments. A millennial group which is hard to nail down is becoming a bigger part of that puzzle.
- Apparel stocks: KATE, ANN, LULU, RL, PVH, VNCE, CRI, UA, HBI, VFC, COLM, KORS, GIL, SQBG, JCP, KSS, DDS, M, JWN, RL, ARO, AEO, ANF, WTSL, TLYS, CACH, ZUMZ, PSUN, EXPR, BKE, KORS, UA, GIII, SQBG, HBI, SKX, FL, VRA, ICON, NKE, WWW, DECK, CROX, SHOO, BWS, PERY, DXLG, SHLD, BONT, GPS, GES, URBN, TJX.
Nov. 18, 2014, 10:18 AM
- Piper Jaffray comes up with an eclectic mix as part of its five best retail stock picks for the holiday season.
- Best Buy (NYSE:BBY): A strong electronics lineup this year bodes well for Best Buy. Ultra HD 4K TVs, iPhone 6s, and GoPro products top many wish lists.
- Coty (NYSE:COTY): A focus on color cosmetics sets up Coty for market share gains this holiday season.
- Del Frisco's Restaurant Group (NASDAQ:DFRG): A bounce in consumer and business expense spending should help this high-end dining name, says Piper.
- Michael Kors (NYSE:KORS): The MK brand is as hot as ever. Consumers in a survey by Piper ranked it as the top fashion brand.
- Nordstrom (NYSE:JWN): The department store operator's best in-class e-commerce operation stands out.
Nov. 12, 2014, 10:37 AM
- Select high-end retailers are in rally mode after Fossil (FOSL +7.3%) cruises past Q3 estimates.
- The strong demand that Fossil saw for higher-priced items bodes well for the sector, say analysts.
- Advancers: Movado (NYSE:MOV) +1.1%, Michael Kors (NYSE:KORS) +1.6%, Coach (NYSE:COH) +1.6%, Vera Bradley (NASDAQ:VRA) +1.1%.
Nov. 6, 2014, 1:27 PM
- Apparel seller Ann issued a warning today on the impact of labor uncertainty at West Coast ports as part of its Q4 guidance.
- The retailer expects $8M in extra air freight costs due to product shipment delays.
- There's also been some reports of delays at ports in the Seattle and Tacoma area which account for 16% of container cargo traffic on the West Coast.
- Analysts fret that more companies will resort to air freight to ensure stores are stocked in front of the Black Friday rush.
- Apparel and footwear stocks: SKX, FL, VRA, ICON, NKE, WWW, DECK, CROX, SHOO, BWS, KATE, ANN, PERY, LULU, RL, PVH, VNCE, CRI, UA, HBI, VFC, COLM, KORS, GIL, SQBG, JCP, KSS, DDS, M, JWN, RL.
KORS vs. ETF Alternatives
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.
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