Last Tuesday KORS announced that they will report earnings on Aug. 5. Now 7 days later they change it to Aug. 4 which is a Monday. Why? Well, all hell has broke loose in regards to the demise of KORS from exactly last Tuesday. Maybe, they see Monday as a very thin date for earnings (which it usually is) and they want to get the max publicity for their continued beat and raise quarter. This unwarranted bad press may have really #$%$ off the management there and they want to optimize the impact of another great quarter. Does this make any sense? Why else would they have changed it only a few days later?
Coach usually reports at least a week before MK. I believe it may be July 29.
MK doing a pre announcement is unlikely, they could have done it yesterday,
and doing so takes the Pop out of earnings day.
If they ever have a "bad" quarter and don't pre announce, they will be way open
to law suits, since they did pre announcements for all their secondary sales.
John Idol has worked long and hard to crush the competition. He is extremely proud of the empire he has built. He is a talented executive who has manufactured one of the greatest retail stories of this century. It must be difficult to hear ignorant analysts bash his company day after day? They have jawboned this stock down to $80 from $100!
The only people who really know what's going on is the KORS management team. I have a sense that they cannot wait to rights these wrongs of the past few weeks. It would not surprise me if the pre-announce earnings in the next few days. I know he wants to set these turkeys straight and shut them up.
All of this KORS bashing started with Jim Cramer and Herb Greenberg. Those two are notorious hedge fund crooks who will make money on the movement of the stock. It would not surprise me to see a nice short squeeze to take this stock to new highs in the coming weeks.
KORS is just starting to make its presence known in China. If they replicate the domination in China as they have in North America then Coach is done, and Michael Kors is under valued with a bright future. Time will tell? I like their chances...