New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 17, 2014
13:14 EDTCOH, KATE, KORSMichael 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
Sign up for a free trial to see the rest of the stories you've been missing.
November 30, 2015
11:29 EDTCOHOptions with increasing put volume; FSLR MON COH TEVA JD BLOX CLR
08:14 EDTKORSThanksgiving deals seen as negative for Under Armour, Deckers
After visiting stores and doing other checks throughout the Thanksgiving holiday weekend, an analyst at research firm Piper Jaffray concluded that Under Armour (UA), Deckers Outdoor (DECK) and Steven Madden (SHOO) offered higher promotions than last year, prompting her to lower her estimates and price targets on the three stocks. MORE PROMOTIONAL: After visiting malls and big box retailers on Thanksgiving night, Piper Jaffray analyst Erinn Murphy said in a note to investors on Friday that brands that appeared more promotional than last year included Under Armour, Deckers Outdoor, Steven Madden, GoPro (GPRO), Michael Kors (KORS) and Ralph Lauren (RL). In a post-weekend follow-up note, Murphy lowered her estimates for Under Armour, saying the company remains one of the more promotional brands across the athletic landscape and that the brand remained promotional during the Thanksgiving weekend. She lowered her estimates on Under Armour for the upcoming quarter and beyond, cut her price target on the stock to $88 from $97 and keeps a Neutral rating on the name. Murphy also lowered her estimates for Deckers Outdoor after observing more UGG promotions over the Thanksgiving weekend relative to last year. The analyst cut her price target for Deckers to $55 from $63 and keeps a Neutral rating on the name. Remarking on Steven Madden, Murphy noted that the brand was more promotional not only on Black Friday but in the two days following as well. She lowered her forecast for the shoemaker to the lower end of guidance for FY15 and trimmed her price target on the stock to $36 from $41, but keeps an Overweight rating on the name. FITBIT: Murphy, who said in her Thanksgiving notes that she views the "must-have" items as being in the electronics and cosmetics spaces this holiday season, said her checks suggested that levels of Fitbit (FIT) products sold down well during the weekend. Importantly, the company's Flex, which she believes is the highest margin offering in its lineup, was full-price throughout the weekend. Murphy has an Overweight rating with a $60 price target on Fitbit shares. PRICE ACTION: In Friday's holiday shortened session, Under Armour shares sunk about 2.6% to $89.68, Deckers dropped 3.2% to $50.11 and Steven Madden added 10c to $33.03.
November 27, 2015
06:39 EDTKORSPiper says Deckers, GoPro look more promotional than last year
After visiting malls and big box retailers during the initial 6 PM store openings last night, Piper Jaffray analyst Erinn Murphy says brands that appear more promotional than last year include Deckers Outdoor (DECK), GoPro (GPRO), Michael Kors (KORS), Ralph Lauren (RL), Steven Madden (SHOO) and Under Armour (UA). Customer traffic "was robust" at the open on Thanksgiving, Murphy tells investors this morning in a research note. She views the "must-have" items as being in the electronics and cosmetics spaces.
November 17, 2015
07:52 EDTKORSMorgan Stanley to hold a conference
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use