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Stock Market & Financial Investment News

News Breaks
May 9, 2014
12:59 EDTRL, COH, KORSRalph Lauren falls after same-store sales drop, guidance disappoints
Shares of luxury product and apparel maker Ralph Lauren (RL) are falling after the company reported that its fourth quarter comparable store sales fell 2%. The luxury goods maker also issued fiscal year 2015 earnings per share guidance that was below the consensus view at the midpoint. WHAT'S NEW: Ralph Lauren reported fourth quarter earnings per share of $1.68, which exceeded analysts expectation of $1.63. The luxury company reported fourth quarter revenues of $1.87B which also surpassed analysts expectations. Ralph Lauren experienced a decline of 2% in its consolidated comparable store sales and noted that it's reported basis comparable store sales were down 1% in constant currency during the quarter. The company attributed the decline to the cold weather and late start to spring in North America and the shift in the timing of Easter versus the prior year. In terms of guidance, Ralph Lauren said that it sees FY14 net revenue to be up 6%-8%. In the first quarter of fiscal FY15, the company said that it expects consolidated net revenues to increase by 3%-5%, led by retail segment growth. Executive vice chairman, Roger Farah, announced his retirement from Ralph Lauren at the end of May but noted that he will remain on the board of directors until the expiration of his term on the date of the company's annual stockholders meeting in August. WHAT'S NOTABLE: During the company's earnings conference call, management said that opportunities for growth are "tremendous" and its strategies are "clear." The company noted that it has planned an increase in advertising and marketing and announced its intention to begin a three-year project to upgrade its global e-commerce operating platform. The company said that investing in new capabilities will support accelerated revenue growth through upped productivity and improved conversion rates. ANALYST REACTION: Wells Fargo analysts Evren Kopelman and Connie Wang said that Ralph Lauren's FY15 guidance was "disappointing," but said that the firm's expectations for sales quickening over the next few years thanks to the Polo strategy is unchanged. The analysts added that if management could give clearer margin progression projections, the multiple on the shares could expand. The firm lowered its FY15 and FY16 estimates for Ralph Lauren, but still said that they foresee "significant" upside potential to the shares and feel that the current P/E multiple is very attractive for the growth that they anticipate. Wells Fargo is maintaining its Outperform rating on the stock. OTHERS TO WATCH: Competitors to Ralph Lauren include Coach (COH) and Michael Kors (KORS). PRICE ACTION: During afternoon trading, shares of Ralph Lauren fell $4.18 or 2.75%, to $147.81.
News For RL;COH;KORS From The Last 14 Days
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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
10:10 EDTRLOn the Fly: Analyst Upgrade Summary
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09:26 EDTRLUSPA wins motion to dismiss Ralph Lauren lawsuit
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09:06 EDTRL, COH, KORSJimmy Choo near London IPO with $1B valuation, Bloomberg says
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07:58 EDTRLRalph Lauren upgraded to Strong Buy at ISI Group
As previously reported, ISI Group upgraded Ralph Lauren to Strong Buy from Buy. The analyst upgraded shares based on relative valuation, a more effective organization structure, the rollout of the Polo store, and the launch of the first ever Polo women's collection in department stores and own stores. Price target is $230.
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.
06:39 EDTRLRalph Lauren upgraded to Strong Buy from Buy at ISI Group
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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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