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Stock Market & Financial Investment News

News Breaks
July 17, 2014
13:14 EDTKATE, KORS, COHMichael Kors rises after analyst sees less discounting than peers
Shares of accessories designer Michael Kors (KORS) are slightly higher in a down market after Credit Suisse said that the company's brands are less likely to be on sale than those of its competitors. WHAT'S NEW: In a note to investors, Credit Suisse analyst Christian Buss wrote that Michael Kors' products are "one of the least discounted brands available during the seasonal clearance period ahead of early fall shipments." At mid-tier department stores, 25% of Michael Kors' products are on sale with an average markdown of 27%, Buss reported. On average, 35% of the products of the company's peers are on sale, at an average discount of 27%, the analyst stated. Additionally, Michael Kors' channel strategy provides it with multiple advantages, including brand integrity and limits on markdowns, Buss believes. Buss wrote that he was "compelled" by the recent drop in the stock, and reiterated a $107 price target and Outperform rating on the shares. WHAT'S NOTABLE: Also upbeat on Michael Kors today was research firm Canaccord. Markdowns of the company's products are not any larger than last year, and concerns about large discounts on its products have created a buying opportunity, the firm contended. Canaccord continues to believe that the accessories maker has strong long-term growth opportunities, and it kept a $123 price target and Buy rating on the shares. PRICE ACTION: In mid-afternoon trading, Michael Kors gained 2% to $83. Two of the company's competitors, Coach (COH) and Kate Spade (KATE), rose fractionally.
News For KORS;KATE;COH From The Last 14 Days
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April 16, 2015
10:15 EDTCOHCoach May volatility elevated into Q3 and outlook
Coach May weekly call option implied volatility is at 44, May is at 33, August is at 28, November is at 26; compared to its 26-week average of 27 according to Track Data, suggesting large near term price movement into the expected release of Q3 results.
10:06 EDTCOHCoach trades higher, levels to watch
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10:00 EDTCOHOn The Fly: Analyst Upgrade Summary
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09:55 EDTKORSMichael Kors view changed to Mixed from Positive at OTR Global (pre-open)
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05:55 EDTKORS, COHCoach upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Joan Payson upgraded Coach to Overweight citing greater confidence in the designer's ability to grow domestic store comps with its turnaround "well underway." She expects Coach's competitive pressures to ease and raised her price target for shares to $50 from $38. The maker of handbags closed yesterday down 28c to $41.76. Payson also lowered her price target for shares of Michael Kors (KORS) to $60 from $70 and keeps an Equal Weight rating on the name. She believes Kors may soon be in need of transformation. The analyst keeps an Equal Weight rating on Tiffany (TIF), calling the company a "work in progress."
April 14, 2015
17:02 EDTCOHCrocs appoints Coach International Group president Ian Bickley to board
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09:20 EDTKATEKate Spade's department store sales strong during Q1, says OTR Global
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April 10, 2015
05:24 EDTCOHCoach, InterparfumsSA sign global license agreement for Coach fragrance
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April 9, 2015
09:18 EDTCOHBofA/Merrill retail analysts hold an analyst/industry conference call
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07:05 EDTCOHCoach, Inter Parfums sign global license agreement for Coach fragrance
Inter Parfums (IPAR) announced that its majority owned Paris-based subsidiary, Interparfums SA, and Coach, Inc. (COH) have entered into an 11-year exclusive worldwide fragrance license agreement. Under the agreement, Interparfums will create, produce and distribute new perfumes and fragrance-related products, including new menís and womenís scents. Interparfums will distribute these fragrances globally to department and specialty stores and duty free shops, as well as in Coach retail stores beginning fall 2016.
April 6, 2015
10:02 EDTCOHOn The Fly: Analyst Upgrade Summary
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08:11 EDTCOHCoach upgraded to Market Perform from Underperform at Telsey Advisory
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