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January 30, 2014
06:18 EDTCOH, LVMUY, BURBYWomen in China altering fashion scene, Bloomberg reports
In China, women have begun to catch up to men when it comes to luxury shopping, reports Bloomberg. Bain & Co. valued China’s domestic luxury market at about $19B in 2013. As such, firms like Chanel and LVMH Moet Hennessey Louis Vuitton are increasing floor space for women’s wear. Reference Link
News For BURBY;LVMUY;COH From The Last 14 Days
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August 4, 2015
09:54 EDTCOHCoach rallies after earnings beat
The stock is up over 6.6% at time of writing to $32.45. At that price next resistance is at $33.34. The move up has broken the stock above downtrend resistance, with the 21-day moving average being a good proxy for that resistance line. The 21-day is support now at $31.96.
09:32 EDTCOHCoach says 'strongly' committed to dividend
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09:16 EDTCOHOn The Fly: Pre-market Movers
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08:57 EDTCOHCoach sees return to positive comps in North America by end of FY16
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07:04 EDTCOHCoach sees FY16 Coach stand-alone brand revenue up low single digits
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07:03 EDTCOHCoach reports North American sales down 20% in Q4 on reported basis
Total North American sales decreased 20% on a reported basis for the quarter to $556 million from $691 million last year, and 19% on a constant currency basis. North American direct sales also declined 20% on a dollar basis and 19% on a constant currency basis for the quarter, with comparable store sales down 19% including the impact of reduced eOutlet events, which pressured total comparable stores sales by about nine percentage points. At POS, sales in North American department stores declined mid-20s versus prior year, as expected, reflecting the elimination of Coach-specific promotional events from the prior year, while shipments into department stores declined somewhat less. International sales decreased 5% for the quarter to $392 million from $414 million last year. On a constant currency basis, sales rose 3% for the quarter. Sales in China rose 5% in dollars and 4% in constant currency on slower distribution growth and a slight decline in comparable store sales. As expected sales on the Mainland were strong, growing at a double digit pace driven in part by positive comps, while results in Hong Kong and Macau were quite weak given significantly lower tourist trends from the Mainland. In Japan, sales rose 2% versus prior year on a constant-currency basis, while dollar sales declined 15%, reflecting the weaker yen. Constant currency sales for the remaining directly operated businesses in Asia were even with prior year while Europe remained strong, growing at a double-digit pace. Shipments into international wholesale accounts declined at a high-teens rate as expected, in large part due to timing shift, while underlying POS sales decreased slightly.
07:03 EDTCOHCoach reports Q4 adjusted EPS 31c, consensus 29c
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August 3, 2015
14:59 EDTCOHNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include CVS Health (CVS), consensus $1.20... Regeneron (REGN), consensus $2.77... Aetna (AET), consensus $1.82... Emerson Electric (EMR), consensus 83c... Kellogg (K), consensus 92c... Charter (CHTR), consensus 36c... MGM Resorts (MGM), consensus 11c... Coach (COH), consensus 30c... Hyatt Hotels (H), consensus 46c... Scripps Networks (SNI), consensus $1.26... Office Depot (ODP), consensus 6c.
13:15 EDTCOHCoach volatility elevated into Q4 and outlook
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12:15 EDTCOHCoach attempting to base at $30, levels to watch
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10:00 EDTCOHOn The Fly: Analyst Downgrade Summary
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07:21 EDTCOHCoach downgraded to Neutral from Overweight at JPMorgan
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July 31, 2015
13:03 EDTCOHCoach volatility elevated into Q4 and outlook
Coach August weekly call option implied volatility is at 74, August is at 49, September is at 40; compared to its 52-week range of 21 to 44, suggesting large near term price movement into the expected release of Q4 results on August 4.
10:02 EDTBURBYOn The Fly: Analyst Initiation Summary
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05:23 EDTBURBYBurberry initiated with a Hold at Jefferies
Price target 1,500p.
July 28, 2015
10:23 EDTCOHBMO Capital says high-end handbag makers to stay weak
High end handbag makers Coach (COH), Kate Spade (KATE) and Michael Kors (KORS) are continuing to struggle and their share prices are likely to remain weak, research firm BMO Capital wrote in a note to investors today. The firm significantly cut its price targets on all three names. WHAT'S NEW: Consumers are spending less on high-end handbags as they increase the amount they allocate to other areas, including travel, leisure and apparel, BMO Capital analyst John Morris stated. Consequently, the North American handbag market was expanding at a 5% rate at the end of June, down from a high single digit rate earlier this year, according to Morris. Meanwhile, competition within the space is mounting and handbag price wars are continuing, the analyst stated. Although handbag stocks have dropped significantly and their valuations appear attractive, they are "falling knives," the analyst warned. Assessing the status of specific companies, Morris says that Kate Spade has avoided implementing major price cuts on its products, though its comparative sales and "mind share" have suffered as a result of that decision and stores are displaying its products less prominently. Coach's stock suggests that investors expect the company's fundamentals to rebound, but Morris thinks that their optimism may be premature. The pace of the company's improvement "remains challenging," and it is likely to be hurt by a decline of U.S. tourism, he believes. Also likely to be hurt by declines in tourism is Michael Kors, the analyst stated. The prices of Michael Kors' products are being reduced by retailers, its gross margins are sinking and its watch business is weak, Morris warned. He reduced his price target on Kate Spade to $19 from $30, on Coach to $28 from $37 and on Michael Kors to $40 from $51. The analyst kept Market Perform ratings on all three stocks. PRICE ACTION: In early trading, Kate Spade was little changed at $18.75, Coach fell 0.5% to $30.60 and Michael Kors was fractionally higher at $39.17.
09:04 EDTCOHHandbag makers estimates, price targets lowered at BMO Capital
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July 23, 2015
10:00 EDTCOHOn The Fly: Analyst Upgrade Summary
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08:48 EDTCOHCoach upgraded to Neutral from Underperform at Buckingham
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July 22, 2015
07:25 EDTCOHCoach price target lowered to $40 from $47 at Stifel
Stifel cut its price target on Coach as the firm believes that competition in the accessories category is increasing, causing a deceleration in the segment. However, the firm keeps a Buy rating on the stock.
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