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Stock Market & Financial Investment News

News Breaks
August 12, 2014
11:21 EDTCOH, KORS, KATEKate 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 2, 2015
11:07 EDTCOH, KORSVera Bradley surges on better-than-expected Q2 earnings, upbeat FY16 view
Shares of Vera Bradley (VRA) surged in morning trading after the company reported better-than-expected second quarter results and raised its outlook for fiscal year 2016. Vera Bradley is a designer of women's handbags, accessories, luggage and travel items and eyewear. WHAT'S NEW: Vera Bradley reported Q2 earnings per share from continuing operations of 15c on revenue of $120.7M, beating analysts' expectations of 11c and $114.99M, respectively. Same-store sales decreased 15% for the quarter, though Robert Wallstrom, the company's chief executive officer, said that the company's comparable sales trend began to improve toward the end of the quarter due to new product offerings, improved in-store execution and initial marketing efforts. Looking ahead, Vera Bradley forecast third quarter EPS from continuing operations of 19c-21c on revenue of $120M-$123M, against analysts' consensus estimates of 15c and $117.2M, respectively. Wallstrom said that the company's turnaround will take time, but noted "meaningful progress" being made, and that Vera Bradley is "confident" in its long-term strategic plan. WHAT'S NOTABLE: Vera Bradley raised its FY16 continuing operations EPS view to 72c-82c from 64c-74c, higher than analysts' expectations of 66c. Additionally, the company's FY16 revenue view was narrowed to $487M-$495M from $480M-$495M, still ahead of analysts' consensus estimates of $481.57M. On its Q2 earnings conference call, Vera Bradley forecast sees Q3 and FY16 same-store sales down in the low double-digit percentage range. The company added that it eliminated hyperpromotions and pared back promotional days in Q2 and noted that it is seeing "green shoots" from its turnaround efforts. Vera Bradley said it sees a decline in hyperpromotional activity in FY16. PRICE ACTION: Vera Bradley shares are up 23.49% to $12.88 in morning trading. OTHERS TO WATCH: Vera Bradley peers include Coach (COH), down 0.54%, Michael Kors (KORS), up 1.92%, and Fossil Group (FOSL), up 0.64%.
09:36 EDTCOHCoach management to meet with Oppenheimer
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September 1, 2015
17:02 EDTKORSMichael Kors reappoints Cathy Robinson as COO
Cathy Marie Robinson withdrew her resignation as an executive officer of Michael Kors Holdings, which was previously disclosed in the Company's Current Report on Form 8-K filed with the SEC on August 11. Effective August 27 Robinson was re-appointed as an executive officer of the Company with the new title of "Senior Vice President of Corporate Strategy and COO". In connection with her promotion, Robinson will receive a grant of restricted share units valued at approximately $1,500,000 under the Michael Kors Holdings Limited Amended and Restated Omnibus Incentive Plan.
August 30, 2015
12:42 EDTCOHAmerican Airlines, others look like underappreciated bargains, Barron's says
Shares of American Airlines (AAL), Coach (COH), PACCAR (PCAR), and CA Technologies (CA) not only look cheap but pay dividends, thereby rewarding patient investors willing to wait for rebounds, Barron's contends in a feature article. All four firms are generating "healthy" return on capital, suggesting operations are stronger than traders believe, Barron's argues. Reference Link
August 24, 2015
09:49 EDTKORSFitbit being sold at Macy's seen as near-term catalyst
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