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February 3, 2014
13:04 EDTKORSEarnings Preview: Analysts expect Michael Kors to meet or exceed Q3 guidance
Michael Kors (KORS) is scheduled to report third quarter results before the market open on Tuesday, February 4 with a conference call scheduled for 8:00 am ET. Michael Kors Holdings Limited is a global lifestyle brand and global accessories, footwear and apparel company. EXPECTATIONS: Analysts are looking for EPS of 86c on revenue of $859.94M, according to First Call. The consensus range for EPS is 82c-89c on revenue of $842.7M-$885.09M. LAST QUARTER: Michael Kors reported Q2 EPS of 71c against estimates of 68c, on revenue of $740.3M against estimates for $725.9M. Comparable store sales increased 22.9%. The company forecast Q3 EPS 83c-85c on revenue of $845M-$855M, and said this outlook assumes a SSS increase in the 15%-20% range. Michael Kors also forecast FY14 EPS $2.77-$2.81 against estimates of $2.83 on revenue of $2.9B-$3B against estimates of $3.03; the company also sees FY SSS up approximately 20%. STREET RESEARCH: Morgan Stanley expects the company to meet or beat the 86c EPS estimate and for the market to reward 20% global comps. The firm believes Michael Kors will deliver "best in class" holiday sales, and says the brand remains the most searched handbag brand. Buckingham expects Michael Kors' sales and earnings guidance to surpass expectations During the quarter, shares were downgraded to Neutral from Buy at Citigroup and Wedbush said markdowns were higher than expected during the holiday season. Michael Kors was mentioned positively at ITG Research in January. OTHER STOCKS: Michael Kors peer Coach (COH) recently reported weaker than expected Q2 results. PRICE ACTION: Michael Kors shares are up almost 3% over the last three months, despite the stock being down over 3% in today's trading.
News For KORS From The Last 14 Days
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October 9, 2015
07:01 EDTKORSMichael Kors trends decelerated through September, says Piper Jaffray
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October 7, 2015
11:12 EDTKORSCiti favors lululemon in retailing, says sell Penny and Kors
Citi analyst Paul Lejuez rolled out coverage of 20 companies in the Specialty Retailing and Department Stores space, recommending to investors that they sell J.C. Penney (JCP) and Michael Kors (KORS) shares and buy stock in lululemon (LULU). SELL J.C. PENNEY: Commenting on the "stormy sector" in general terms, Lejuez said he believes challenges to the retail industry are here to stay, but that there are still stand-outs on both the positive and negative side. Regarding J.C. Penney specifically, Lejuez told investors that the company's management is in a "tough spot," as they need to recover from a prior failed strategy but don't have the needed cash flow to invest and win back customers. The analyst think Penney will see some improvement in the top line, but that any increases in operating cash flow as a result of sales and margin improvement will be matched by increased capital expenditures, meaning that free cash flow will be "elusive for the foreseeable future. Lejuez started shares of J.C. Penney with a Sell rating and $7 price target. SELL KORS: Among the 20 stocks he started coverage on in the space, Michael Kors was the only other Sell rating the analyst issued. Lejuez believes the company has overdistributed its brand and though U.S. comparable sales have just started to decline he thinks this decline will last for the "foreseeable future." Lejuez, who contends that Europe and wholesale may be next to deteriorate, set a $38 price target on the stock. BUY LULULEMON: Among the ten Buy rating issued this morning, Lejuez said his most preferred stock in the bunch is yoga apparel maker lululemon. The analyst thinks the "athleisure" retailer has moved beyond its prior product and public relations missteps and that its international opportunities will provide the next leg of growth for the company. The analyst, who expects double-digit sales growth for the next several years for lululemon, set a $69 price target on its shares. His other Buy-rated names, in order of preference, include TJX (TJX), Tiffany (TIF), Urban Outfitters (URBN) and Ross Stores (ROST). PRICE ACTION: In morning trading, J.C. Penney fell 2.7% to $9.52, Michael Kors slipped 0.3% to $43.24 and lululemon shares rose 2.2% to $52.86.
10:01 EDTKORSOn The Fly: Analyst Initiation Summary
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07:31 EDTKORSMichael Kors initiated with a Sell at Citi
Citi analyst Paul Lejuez started shares of Michael Kors with a Sell rating and $38 price target. The company's sales per square foot and EBIT margins "have a long way to fall," Lejuez tells investors in a research note. The analyst also started shares of J.C. Penney (JCP) this morning with a Sell rating.

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