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June 5, 2014
13:17 EDTVRA, M, COH, KATE, SHOO, KORSVera Bradley sinks after weak Q1 revenue reflects 'difficult' enviornment
Shares of women's accessory company Vera Bradley (VRA) declined after reporting weak first quarter revenue which reflected a harsh environment over the quarter. WHAT'S NEW: Vera Bradley's Q1 EPS was 16c, which was higher than analyst's consensus of 13c. The company's Q1 revenue as $113.5M, which was below expectations. The accessory company said despite a higher than anticipated Q1 EPS result, it continues to face a difficult environment, one that is proving much more challenging than it foresaw two short months ago. Vera Bradley cited the sales miss to guidance primarily being due to lower than expected orders from the company's Indirect specialty retail partners, weaker than expected comparable store sales performance in the company's retail stores, and a shortfall at the company's annual outlet sale. Vera Bradley expects Q2 EPS to be 18c-20c which is lower than the consensus analyst forecast of 30c. The company foresees Q2 revenue to be $113M-$120M which is lower than the $127.48M that analyst predict. Vera Bradley anticipates FY15 EPS from continuing operations to be in the range of $1.00-$1.10 while analyst consensus guide higher to $1.26. The company expects FY14 revenue to range between $510M-$530M which is lower than expectations of $553.69M. The accessory company announced today that it's products will be sold at select Macy's (M) locations by mid-July. WHAT'S NOTABLE: During the company's Q1 earnings conference call, Vera Bradley said that the short term will remain challenging and it will take time for marketing plans to take hold. The company expects to incur pre-tax charges related to the exit from Japan during Q3 of approximately $2M, or 3c per share. FY15 direct segment comps are expected to be down in the mid single digits and the company says its still identifying cost reductions. Vera Bradley expects to cut costs in manufacturing and sourcing but aims to open seven outlets this year. OTHERS TO WATCH: Competitors in the accessory industry include Michael Kors (KORS), Coach (COH), Kate Spade (KATE), and Steven Madden (SHOO). PRICE ACTION: During afternoon trading, shares of Vera Bradley fell 98c, or 3.88%, to $24.27.
News For VRA;M;COH;KATE;SHOO;KORS From The Last 14 Days
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August 27, 2014
11:32 EDTCOH, KORSTiffany shines brighter as results beat expectations, company raises outlook
Shares of luxury retailer Tiffany (TIF) are moving higher after the company reported significantly stronger than expected second quarter results and raised its fiscal year 2015 earnings per share view. WHAT'S NEW: Tiffany's reported Q2 EPS of 96c on revenue of $993M, beating analysts' consensus estimates of 85c and $987.88M, respectively. Worldwide net sales increased 7% in Q2 and comparable store sales increased 3% in Q2 mainly due to growth in the Americas and Asia-Pacific regions. Looking ahead, the retailer increased its FY15 EPS view to $4.20-$4.30 from its previous view of $4.15-$4.25, which is in-line with analysts' $4.29 consensus. Tiffany anticipates worldwide net sales increasing by a high-single digit range and sees worldwide net sales increasing by a high-single-digit percentage for the year. The company also sees FY free cahs flow of at least $400M as well as capital expenditures of $270M. WHAT'S NOTABLE: During its conference call discussing the quarter, Tiffany said that it sees a "healthy" increase in its full-year operating margin. The luxury company noted that it experienced continued softness in its U.S. silver sales during Q2 as well as softness in U.S. entry-level sales under $500. In its Japan division, the retailer foresees returning to single-digit sales growth, but noted that the unit has not experienced that so far in the first few weeks of this month. In Europe, the retailer said it is "still feeling" the effect of economic and currency related obstacles. Tiffany sees opening 10 stores throughout the rest of the year, which is lower than its original plan of opening 13, and plans to close three stores this year compared to its original target of closing four. Tiffany also sees a double-digit percentage marketing spend increase in the second-half of this year. ANALYST REACTION: Sterne Agee analyst Ike Boruchow said that as Tiffany continues to surpass expectations in its earnings reports, fashion jewelry in general is growing again and the company's latest "T" collection should quicken that category further. He feels that regardless of the few headwinds in Japan and Europe, the luxury company is still one of the most stable retail firms. Boruchow believes that the CEO transition from Michael Kowalski to Frederic Cumenal is likely to be a "smooth" one in March. The analyst keeps the stock at a Buy rating with a $100.77 price target. OTHERS TO WATCH: Other high end retailers include Signet Jewelers (SIG), Blue Nile (NILE), Nordstrom (JWN), Michael Kors (KORS), and Coach (COH). PRICE ACTION: During late-morning trading, Tiffany rose $1.32 or 1.31%, to $102.09.
August 21, 2014
10:35 EDTMSears falls after reporting Q2 loss that more than doubled analyst projections
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August 20, 2014
08:31 EDTMMacy's reaches agreement with NY AG on racial profiling allegations
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05:58 EDTKATEStocks with implied volatility below IV index mean; KATE VRNG
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August 19, 2014
05:58 EDTKATEStocks with implied volatility below IV index mean; KATE VRNG
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August 18, 2014
06:02 EDTKATEStocks with implied volatility below IV index mean; KATE KMP
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August 17, 2014
18:10 EDTMInvestors should buy Nordstrom over Macy's, Barron's says
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