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Stock Market & Financial Investment News

News Breaks
August 12, 2014
11:21 EDTKATE, KORS, COHKate Spade falls as company remains 'cautious' on FY16 margin outlook
Shares of accessory and clothing retailer Kate Spade (KATE) are falling lower despite climbing higher during pre-market trading after teh company said it is "cautious" on fiscal year 2016. WHAT'S NEW: Kate Spade this morning reported second quarter adjusted earnings per share of 5c, surpassing analysts' consensus of 0c. The company's Q2 revenue was $266.0M, which beat analysts' consensus of $237.83M. Net sales for Kate Spade North America during the quarter were $208M, a 54.6% increase compared to last year, driven primarily by increases in Kate Spade New York. The retailer reported that its direct to consumer comparable sales growth for the quarter was up 30% and noted that it expects fiscal year 2014 direct consumer comparable sales growth of 15%-17%. Kate Spade also increased its full-year adjusted earnings before interest, taxes, depreciation and amortization outlook to $120M-$130M from $115M-$125M. WHAT'S NOTABLE: During the company's conference call, the company said that its Juicy Couture wind-down is "substantially complete" and that it has liquidated virtually all of Juicy's inventory. Interest expense in FY14 is anticipated to be $32M-$37M and the company's normalized tax rate is foreseen to be 38%-40%. The retailer expects 80 new store openings compared to last year. Kate Spade says comps in the second half of 2014 are anticipated to be in the high single digit range. Still, Kate Spade said that it remains "cautious" on FY16 margin targets, and noted the "promotional" landcape in Q2. The company noted that it is not currently revisiting FY16 margin targets. It sees margins "slightly lower" than Kate Spade New York over time and expects Saturday to be a "compelling" business. The company said it expects to achieve an adjusted EBITDA margin target of 25% for the former Kate Spade Segment, but is assessing whether any short-term adjustment to the 2016 timeframe is warranted, adding that if a short-term adjustment is necessary, it expects the most likely adjustment would be a shift to 2017. The company sees margin rate affected by the promotional environment. The company is currently pursuing various partnerships to improve operating leverage and expects to launch its UK e-commerce site in Q4. Kate Spade said it feels "very good" about the direction of the Kate Spade Saturday brand. PRICE ACTION: During morning trading, shares of Kate Spade were down $5.36 or 13.79% to $33.51. OTHERS TO WATCH: Competitors to Kate Spade include Michael Kors (KORS) and Coach (COH).
News For KATE;KORS;COH From The Last 14 Days
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September 17, 2014
10:00 EDTKATEOn The Fly: Analyst Initiation Summary
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07:17 EDTKATEKate Spade initiated with a Buy at Wunderlich
Target $36.
September 15, 2014
13:14 EDTKORSMichael Kors trends tracking above Street, says ITG Research
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September 12, 2014
07:01 EDTKORSMichael Kors names Pascale Meyran as Chief Human Resources Officer
Michael Kors Holdings Limited announced that Pascale Meyran has been named to the newly created role of Senior Vice President, Chief Human Resources Officer. She will report to John D. Idol, the company’s chairman and CEO. Meyran’s appointment, effective September 15, 2014, is a key element in the brand’s development of a strategic global infrastructure. In this new role, Ms. Meyran will oversee the creation of a best in class Global Human Resources Department, with a focus on a robust learning and talent development program.
September 10, 2014
10:00 EDTCOHOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: African Barrick Gold (ABGLY) upgraded to Neutral from Sell at Goldman... ArcelorMittal (MT) upgraded to Overweight from Underweight at Barclays... CRH Plc. (CRH) upgraded to Outperform from Underperform at Raymond James... Callon Petroleum (CPE) upgraded to Buy from Neutral at SunTrust... Coach (COH) upgraded to Overweight from Neutral at Atlantic Equities... Hartford Financial (HIG) upgraded to Outperform from Market Perform at FBR Capital... Huntsman (HUN) upgraded to Buy from Neutral at Citigroup... Imperva (IMPV) upgraded to Outperform from Perform at Oppenheimer... L Brands (LB) upgraded at Credit Suisse... Marcus (MCS) upgraded to Buy from Neutral at B. Riley... Noodles & Company (NDLS) upgraded to Buy from Neutral at UBS... Sunoco Logistics (SXL) upgraded to Overweight from Equal Weight at Barclays... Triangle Petroleum (TPLM) upgraded to Buy from Accumulate at KLR Group... Twitter (TWTR) upgraded to Buy from Neutral at UBS.
07:47 EDTCOHCoach upgraded to Overweight from Neutral at Atlantic Equities
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06:01 EDTCOHCoach upgraded to Overweight from Neutral at Atlantic Equities
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September 9, 2014
09:06 EDTCOH, KORSJimmy Choo near London IPO with $1B valuation, Bloomberg says
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07:02 EDTCOHCoach names Gebhard Rainer as president and COO, effective September 29
Coach (COH) announced the appointment of Gebhard Rainer, as President and COO, effective September 29. Rainer joins Coach from Hyatt Hotels Corporation (H), where he most recently held the position of Executive Vice President and CFO. Rainer is filling a position that has been vacant since September 2013.
September 5, 2014
16:25 EDTKORSOn The Fly: Closing Wrap
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12:57 EDTKORSOn The Fly: Midday Wrap
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12:42 EDTKORSStocks with increasing options volume
Stocks with increasing options volume: VALE MCP KORS WAG GM PCLN
09:19 EDTKORSMichael Kors margin concerns still overblown, says Buckingham
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09:16 EDTKORSOn The Fly: Pre-market Movers
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08:25 EDTKORSMichael Kors 11.63M share Spot Secondary priced at $76.75
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07:27 EDTKORSMichael Kors volatility expected to move on offering of 11.63M shares for holder
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07:09 EDTCOHCoach volatility increases
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September 4, 2014
18:28 EDTKORSOn The Fly: After Hours Movers
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16:26 EDTKORSMichael Kors offers 11.63M shares for Sportswear Holdings
Michael Kors announced that it has launched a secondary public offering of ordinary shares pursuant to a shelf registration statement on Form S-3 filed with the SEC on behalf of Sportswear Holdings Limited, one of its principal founding shareholders, for the offering of 11.63M ordinary shares, representing all of the ordinary shares held by Sportswear Holdings. Effective as of the closing date of the offering, Lawrence Stroll and Silas Chou will resign from the company’s board. Following their resignation, the company’s board will be comprised of seven directors. J.P. Morgan Securities LLC will act as sole book-running manager for the offering.

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