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.
U.S. retailers eked out a 2.3 percent sales gain on Thanksgiving and Black Friday, in line with a prediction for the weakest holiday results since 2009.
Sales at brick-and-mortar stores on Thanksgiving and Black Friday rose to $12.3 billion, according to a report yesterday from ShopperTrak. The Chicago-based researcher reiterated its prediction that sales for the entire holiday season will gain 2.4 percent, the smallest increase since the last recession.
Retail-Apparel moved up to #11 this week. The sector was helped with a strong performances from COH, DECK, CROX and others...
It does not matter; until it does! NFLX will trade over $600 next year...
This stock has put in a bottom. They will deliver solid Christmas sales.
The dividend yield is worth noting, and COH is a nice value stock.
It will not run up and split like in the past, but the stock has 20% upside from here...
KORS traded up 1.1% this week with eight million shares exchanged. The stock was down 2% last week with 14 million shares traded. The stock is digesting the move from $73 to $83 with nearly 100 million shares traded earlier in the month. The stock is just above the $78.82 buy point, and above its 10 week line.
I am up 65% on KORS which is lapping the field, and trouncing market averages.
This is my post on November 1 calling for $.82! They also raised guidance MORE than I predicted...
qofaslave69 • Nov 1, 2013 5:59 PM 1users liked this postsusers disliked this posts0Reply
$.82 My Q2 Estimate
KORS raised guidance to $.64 for this quarter. However, the expectations have crept up to $.67-.$68 with the high estimate at $.75! Last quarter the high estimate was $.56 and KORS beat by a nickel ($.61) and their sales have accelerated since the last conference call. I actually believe the number will be closer to $.90! But, we cannot have too lofty of expectations. That is why I am going with $.82 with $745 million in revenues. Also, I predict they will raise guidance for fiscal 2013 from $2.67-$2.69 to $2.74-$2.76.
Anyone have a better idea? Less
KORS management team has been executing well with their many offering and store openings. However, they have been discussing the "omnichannel experience" for the customer base for quite some time, and have not been executing in this area. The E-commerce retail website was originally scheduled to be available for this holiday season, and was pushed back to spring 2014! At the last conference call, John Idol said it will not be ready until fall of 2014! The current website (run by Neiman-Marcus) is rather drab. They also need to develop a mobile application as more shoppers are ordering via tablets and smart phones (phablets too)!
The other area of disappointment is in the lack of men's offerings. Yes, they have some apparel for men. But, they have been talking about men's leather goods for quite some time, and I do not see it. I bought a belt at a coach store today, and they had some decent men's leather offerings. As a man, when I buy my wife a handbag, or watch, it would be nice to have something available I could purchase for myself also.
They really need to start executing better in these two areas!
You are correct that KORS is a $16 billion firm, and it has run up quite a bit since the IPO. But, there is no reason it cannot grow into a $30 billion firm.
I estimated KORS would earn $.82 and not $.90! I would appreciate it if you do not misrepresent me. Their earnings were still pretty spectatcular, and revenues too.
I do a lot of research, and contribute quite a bit of information on here. Oh, and one more thing.... I do not call people names.
I know you are a long term holder of this stock! RS is not a real high priority for me when deciding what stock to buy. TSLA traded from $194 to $115 and still has a relative strength of 97! That is $80 worth of pain I would rather avoid.
KORS has earnings power and will make new highs prior to their February earnings report. I do not think the $83.13 will hold until February.
The trend that KORS is enjoying will take some time to unfold. Check out the COH chart from 2001 to 2008! I bet KORS sees similar action. I want to profit of that trend.
If you have a Twitter account you can search for "KORS" or "Michael Kors" and people are posting photos of huge lines of shoppers inside and outside the Michael Kors stores in Florida, New Jersey, and California last night. Brian Sozzi of Belus Capital Advisors posted a photo of a closed coach store next to a packed Michael Kors store.
I went to the mall at Valley Fair and Michael Kors was slammed. I saw some merchandise on sale, and that is a first for Michael Kors.