Heavy discounting a joke you keep telling. I was at the mall this weekend, there were no KORS discounts. Maybe a 'few' of last years models is all. No sales. No discounts. Nothing.
Ha yeah I was in STX when it was around $19...after one earnings call it went to $25 in one day. I owned LT calls at the time that were dirt cheap due to the reasons you mentioned. Now it trades around $60 This was only in the last few years this happened,
Anyway I believe there is currently a concerted effort to hold KORS down..it's quite obvious. Up 3 down 3 up 3 down 3...rinse and repeat. It'll reverse to the upside eventually. A nice big buy back announcement would be a really nice right now. Probably won't happen though. As some mentioned, mgt. doesn't seem to shareholder friendly.
If they continue to hold it down long enough, yeah eventually the brand will start to diminish as they keep citing (and proven wrong time and time again) and then they will be proven right...as with any brand. Jerks!
Not sure if 30% growth is really considered a huge downtrend in sales. Compared to whom? KORS goes head to head with UA in terms of sales/profit growth but their forward PE is 15 (rounding up) while UA is 50. Not saying we deserve a PE of 50 but somewhere around 20 would be more appropriate based on results.
Yeah high growth stocks usually are priced at a premium, KORS is selling at a big discount. I'm sure this is something Buffett would buy if he was into purses.
Is this something you copied and pasted from somewhere or are you trying to use your community college creative writing class finally?
That scared me. Very happy to be down only 2% now...excellent report IMHO!! Lowered guidance was the only downer. Lots of targeted growth left here.
Just landed a great new job. Think I'm going to reward myself with a new KORS watch (or purse - or both)!
Even though you annoy me lately, that is true. Projections will move the stock more than this quarters earnings.
Really worried about currency conversion taking a hit on earnings. That's what happened to RL today big time!
Read the latest Seeking Alpha (for what it's worth) and they seem to think we're going to the $50's after earnings even though the writer feels it's worth $94 and the long-term growth story is still intact.
Sephora yes but it's just not the same. In Sephora EVERYTHING is high end, with ULTA you can get your drug store brands along with the higher end items while at the same time earning points for more money off on top of the coupons the send you almost weekly. Also occasionally, ULTA has 20% off the entire store to anyone who shops there. I think at Sephora, you have to be a special member (ie: who spends a lot of money). I think ULTA is more the every day person's place vs. Sephora which is people with lots of money to burn. I shop at ULTA pretty frequently (does once a week count?)....love it! Wish I bought in when it was around $60 a few summers ago. Sally is not really competition for ULTA either...it's just different stuff. Mostly for hairdressers and nail techs.