Low volume decline past week. August money managers on vacation with junior managers at the helm and KORS has been finally out performing the market up or down days. It doesn't make any sense for Sportsware and Michael Kors and John Idol to sell anymore shares in the next quarter. I would have expected it a few weeks ago now I think it is time they let it roll. On top of it all they do not control enough shares that the market could not easily absorb. They obviously have become a true market leader and would be surprised if they do not continue to now out perform even in a so far minor market selloff. So much growth left and the web site build out will be huge in 2014. It is in the early stages in terms of it being publicly traded and buy on the dips when lucky enough for that to occur seems to be obvious. "Q" what do you think and finally hope all is well with RICH. Where have you gone Joe Dimaggio? The Kors board misses you!
The general market malaise is expected this time of year. I would not get too excited about $2-$3 in either direction as the volume is not there with the move. I do expect some turbulence in August/September prior to a year end rally.
The Sportswear folks have a nice asset with 12 million shares of KORS. The can sell a million or two at a time on the open market, or dump the entire 12 million in a secondary. I highly doubt they sell out with Michael Kors just starting to completely dominate the luxury handbag space. Michael Kors is sitting on 4 million shares, and I seriously doubt he sells anytime soon.
I am not concerned too much about management selling shares. During the last conference call management mentioned they could "buyback shares" or "Create a dividend" with all of their cash. That was a 180 degree change from what they have done in the past.
KORS is just getting rolling, and 2014 will be better than 2013, and 2015 will be better than 2014. I am willing to stick around and see how the stock will appreciate over the next few years. If the stock appreciates 30% while the market appreciates 20% then I am a happy camper. I am not seeking NFLX type returns with KORS. However, I do expect to beat all market averages.
Generally agree with you except IMO the 16 millionshares insiders hold will have an affect on the stock price and I also think that the insider SPO will take place after the holiday quarter results are posted, likely February 2014. I am still waiting on this event to clear out all the uncertainty so we can enjoy earnings and the growth this company has and will continue to deliver well into 2015.