Gwyneth Paltrow and Michael Kors want to keep you looking stylish this holiday season.
But it'll cost you.
The Goop goddess and designer have just unveiled their collection for Paltrow's lifestyle website, and some of the winter basics definitely ring in on the pricier side.
The gray peplum sweater Paltrow wears in a festive promotional video she shot with Kors will set you back $950, while a classic pea coat goes for $1,995.
Still, to hear Paltrow tell it, the limited collection items are investment pieces that will take you from season to season.
"A peacoat is a classic—it never goes out of style," she wrote of the staple piece on her site. "I asked Michael if perhaps we could take his and add gold buttons for some added elegance."
Right in keeping with the timelessness of the coat, the other pieces in the limited edition collection are also inspired by Kors designs that Paltrow has collected and held on to over the years.
Take the gorgeous $2,595 cashmere cape she throws over her shoulders in the video, which is just like the vintage gray cashmere one the actress has owned for over a decade.
"Funnily enough, I ran into Michael on a flight where he noticed I was rocking his cape, probably in a less chic manner than he would have liked, my 6-month-old daughter and I lay wrapped in it all the way to England," she revealed.
Still, if you think a cape with a near $3,000 price tag is ridiculous whether or not it doubles as a baby blankie, there are plenty of people willing to pony up the cash for the luxe number.
In fact, along with the a pair of ankle strap heels, Kors' cashmere cape for Goop has already sold out—after only having debuted yesterday!
Michael Kors Holdings Ltd (NYSE:KORS) saw renewed interest from hedge-fund managers in the third quarter with the number of funds investing increasing by almost 11 percent.
This holiday season is expected to yield good dividends to this company in the footwear, apparel and accessories category. The last quarterly results saw an increase of 23 percent in comparable store sales alongside a 31-percent increase in North American sales. Michael Kors Holdings Ltd also beat analysts’ expectations by reporting revenues of $740.3 million and earnings per share of 71 cents. The company is expected to close fiscal 2013 with revenues of $3 billion and earnings of $2.83 per share.
No wonder hedge funds are optimistic about Michael Kors Holdings Ltd (NYSE:KORS).
What have hedge funds been doing with Michael Kors Holdings Ltd (NYSE:KORS)?
Hedgies consolidated their long positions in the company with five more funds joining the 46 already invested, taking the total to 51 hedge funds with long positions at the end of the third quarter.
Stephen Mandel’s Lone Pine Capital had the No. 1 position in Michael Kors Holdings Ltd (NYSE:KORS), worth close to $714.1 million, corresponding to 3.2 percent of its total 13F portfolio. The fund increased its investment in the company by 7 percent in the last quarter. Coming in second is Viking Global, led by Andreas Halvorsen, holding a $700-million position; the fund has 3.9 percent of its portfolio invested in the stock. Some of the other funds which shared the optimism were Donald Chiboucis’s Columbus Circle Investors, Bain Capital’s Brookside Capital and Eric W. Mandelblatt’s Soroban Capital Partners.
Other hedge funds missing out the action in the second quarter responded by investing in the third quarter. Soroban Capital Partners, managed by Eric W. Mandelblatt, created the most valuable position in Michael Kors Holdings Ltd (NYSE:KORS). Soroban Capital Partners had $105.8 million invested in the company at the end of the quarter.
The stock is consolidating the move from $73 to $83. It traded down this week on light volume. This is bullish action. It is likely to trade down to its 10 week line next week ($78). This is just technical action.
Fundamentally, the firm is taking market share and expanding globally. This will be another beat and raise quarter.
There are some real losers in retail right now. ULTA reported a weak quarter, and blamed it on the government shutdown, and JCP is at the top of the list of losers.
I am sure KORS will be represented by Joe Parsons at this conference. John Idol does not like doing those events. Mr. Parsons will not say much. You must listen for the code words like; "KORS is taking market share" and "Sales are strong in Europe." All of this tells us what we already know; Another beat and raise quarter ahead...
I didn't mean today...I believe a set up is forming a favorable upside rally
The stock has been trading in a tight range on low volume. It will be one of the big winners this holiday season. I am holding long and not worried about the daily gyrations...
See you at $100 in the first few months of 2014...
The market is taking all of them down on what the market feels is poor black friday sales and also forecasting lower buying this Xmas.
Throwing the baby out with the bath water. ULTA had a weak report but CONN a good one. There will be winners and losers in retail (nothing new).
We will not hear from John Idol again until February. Until then I expect KORS to trade between $78 and $82...
CELG is a large firm with a $69 billion market cap. It is likely to grow around 20% next year which is outstanding for a firm this size. However, the multiple is near 50 and that is quite rich for a firm this large growing at this rate. There are plenty of other stocks growing at a faster rate with a much lower multiple.
CELG is a great company and is likely to hit the $200 mark. But, there are quite a few momentum players in the biotech space pumping these stocks higher. I think this one is a bit ahead of itself.
Michael Kor has personally visited Italy (Milan-twice) and Japan (Tokyo) this quarter. He was in Milan last night with the gorgeous Bar Rafaeli (wish I could post photos) as they celebrated the opening of another new store in Milan, Italy!
I expect Europe and Japan sales to be stellar this quarter. Of course, KORS is still taking market share in North America. Do yourself a favor and check how Michael Kors is soaring on google trends. The trend does not appear to be slowing at all.
This great quarter will be rewarded. They had 35% same store sales! That is phenomenal!
They raised fiscal 2014 guidance to $2.75-$2.80...
This does not seem bullish to me... Quite speculative in fact...
But having worked in retail myself and followed the industry for better than a decade, I also know that fashion tends to be fleeting, and no company, not even the great Michael Kors, can keep up this torrid pace of growth.
One factor investors may want to consider, this year especially, is how badly teen retailers struggled during the back-to-school season. Usually back-to-school sales give us a good precursor of what to expect for the remainder of the holiday season. Based on what I'm seeing, this would mean consumers are holstering their cash and waiting for deep discounts -- not something you'll find at Michael Kors.
Optimists also may not want to overlook the allure of rewards programs, which help boost sales. Without any major loyalty-rewards programs, Michael Kors, which is predominantly a mall-based retail outlet, may struggle to attract shoppers this holiday season. I'm not calling for a crash by any means, but I'm simply saying at some point very soon the short-sellers will likely be victorious.
I was in the Phoenix airport recently and could not believe how many young ladies were traveling with Michael Kors bags. The sales in Macy's and Nordstrom's is old inventory. I saw some 25% discounts on new stuff last weekend, and was surprised. The discount was only for last weekend.
Michael Kors is still seeing heavy foot traffic and seeing strong sales this holiday season.
Yes, they are areas to look forward to for future growth. I just want to buy myself something when I am dropping $1,000 on my wife:)
There is no doubt they are killing it this Christmas season...
The IBD article is consistent with what I saw. But, there are so many stores it is difficult to tell..
Michael Kors (KORS), Gap (GPS) and L Brands (LTD) drew shoppers as the early Black Friday kickoff and heavier promotions helped drive traffic to brick-and-mortar stores.
Many, including Best Buy (BBY), Macy's (M) and Target (TGT), even opened on Thanksgiving Day in an attempt to lure early shoppers with big discounts. And that battle to win customers is likely to continue this month, analysts say.
"This year Black Friday gave us a taste of what to expect for the remainder of the holiday selling season: intense competition, deep discounts and choppy mall traffic," Sterne Agee analyst Ike Boruchow said in a report.
"Earlier store openings drove heavy traffic, which dissipated and then bounced through the day."
Fashion house Michael Kors, which has been a strong performer since its December 2011 stock market debut, enjoyed heavy traffic in its stores.
Shares, up 61% this year, were slightly higher in afternoon trading in the stock market today.
Online Shopping Grows 14.5% Over Four-Day Weekend
From Thanksgiving through Sunday, Mobile Sales Also Increase 43.7%
Here are the online shopping trends in the U.S. that we saw over the combined holiday shopping weekend from Thursday, November 28 through Sunday, December 1, from the IBM Digital Analytics Benchmark.
Overall online sales from Thanksgiving through Sunday were up 14.5 percent in 2013 over the same period last year. Let’s take a closer look at some of the key drivers:
Mobile Traffic and Sales: Mobile traffic accounted for 40.9 percent of all online traffic, up more than 35 percent compared to the same period last year. Mobile sales remained strong, reaching 23.2 percent of all online sales, up 43.7 percent year-over-year.
Smartphones Browse, Tablets Buy: Smartphones drove 25 percent of all online traffic compared to tablets at 15.2 percent, making it the browsing device of choice. When it comes to making the sale, tablets drove 15.7 percent of all online sales, more than double that of smartphones, which accounted for 7.4 percent. Tablet users also averaged $127.73 per order, versus smartphone users, who averaged $111.43 per order.
iOS vs. Android: As a percentage of total online sales, iOS was nearly five times higher than Android, driving 19.3 percent vs. 3.9 percent for Android. On average, iOS users spent $123.45 per order compared to $102.33 for Android users, a difference of 21 percent. iOS also led as a component of overall traffic with 28.9 percent vs. 11.8 percent for Android.
The Social Influence - Facebook vs. Pinterest: Shoppers referred from Facebook averaged $72.04 per order, versus Pinterest referrals, which drove $95.20 per order. However, Facebook referrals converted sales more than 3x the rate of Pinterest referrals, perhaps indicating stronger confidence in network recommendations.
That makes sense as nearly 100 million shares were traded in the first two weeks of November as KORS was added to the S&P 500! Funds were forced to purchase KORS long, and use the short as a hedge.
I have been to several Michael Kors stores over the weekend and saw 25% discounts for the entire weekend on certain items. I have never seen that before. Does anyone remember last Christmas if there were discounts offered?
(Reuters) - ComScore Inc, an analytics firm whose data is closely watched by Wall Street, said U.S. online sales rose a total of 17.3 percent on Thanksgiving and Black Friday, the unofficial kick-off to the holiday spending season.
The National Retail Federation estimated on Sunday that retail sales over the full Thanksgiving weekend will reach $57.4 billion, with the average shopper spending $407.02, down from $423.55, because of lower prices.