Will dry up...after this option expirations Friday...
KORS is likely to trade down to its 10 week line ($57) where it will be a screaming buy! The low is $51.63, and we should see higher highs, and higher lows as this stock is poised to break out of a first stage base. There are few buyers before earnings. It looks like some profit taking, and the volume should dry up as the sellers abate into next week.
The expectations are quite high for KORS as analysts have priced in 80% YOY eps growth, and given the stock a multiple of 34! Something has got to give here...
FIRST QUARTER SUMMARY
Nordstrom same-store sales, which consist of the full-line and Direct businesses, increased 3.1 percent. Top-performing merchandise categories included Cosmetics, Women’s Apparel and Handbags. Women’s Apparel outpaced the multi-channel average for the third consecutive quarter.
KORS is likely to test its 10 week line before earnings... $57is the test...
We like Hawaii this time of year...who doesn't?
No doubt! No worries! KORS taking market share big time...welcome back!
Thanks for the laughs! I am going on vacation tomorrow, and will not return until June, and feel comfortable buying KORS under $60! When I return KORS will be trading over $70... Good luck to all...
I am not rich, but pleased with the performance of KORS at this point. Typically, the stocks I purchase are blue chips where 10% is a great year (dividends boost performance). KORS is a risky purchase for me, and I do expect a two bagger. But, this will take 12-18 months. So, sometime in 2014 I expect KORS to trade around $100-$120. That is a good investment by any standards.
KORS is best if breed and will outperform in time...
Good luck to all...
Shorting a growth stock in a bull market is a recipe for the poor house...
A Swiss luxury jeweler reports excellent European sales for watches, and more...
At 14 % at actual exchange rates and 9 % at constant exchange rates, the year-on-year sales increase reflected, in particular, growth in the Group’s own retail network, bolstered by very strong demand from tourism in Europe. The Americas region also remained strong throughout the year.
Outlook
Despite the slowdown in the Asia Pacific region and continuing uncertainty in the world economy, sales in the month of April were 12 % above the comparative period and 13 % at constant exchange rates. However, one month of sales should not necessarily be taken as an indication of the year.
After the close today. I wonder if they will be as transparent as Dillard's, Fossil, and Macy's?
At least KORS does not have an upgrade to drag it down today.
The stock is trading much tighter than it has in the past leading into earnings...
The CEO's at Macy's and Dillard's said the same thing, "The primary drivers of revenue were women's handbags, watches, and accessories." Combine this with the endorsement by the FOSL CEO and we can connect the information. Some folks need to be hit over the head, and others do not. Which one are you?
Connect the dots people! The macro data for retail is strong. Dillard's adding high-end vendors like KORS, and now they are boosting profits.
The FOSL CEO told us all we really needed to know. I have never heard a CEO speak so glowingly of another firm. Macy's and Dillard's reports today are a clear indication that higher end accessories and fashion are strong. Even COH has stronger than expected North American sales for their handbags. Ralph Lauren will report next week, and guess what...it will be solid.
On May 29 the best of breed will deliver big time... easy money...
KORS is up 19% since hitting bottom on April 22, and has been outperforming the markets. No stock goes up every day. Earnings are coming and some folks may want to be cautious and take profits.
Like Rich said: chill out until earnings....
Strong sales in women's accessories and lingerie. How much evidence do you need Watson?
Total merchandise sales (which exclude CDI) for the 13-week period ended May 4, 2013 were $1.530 billion and $1.522 billion for the 13-week period ended April 28, 2012. Merchandise sales in total and comparable stores increased 1% for the 13-week period ended May 4, 2013 following a 5% comparable store sales increase in the prior year first quarter.
Sales trends were strongest in ladies’ accessories and lingerie and juniors’ and children’s apparel. Sales were weakest in the home and furniture category. Sales trends were strongest in the Central region, followed by the Eastern and Western regions, respectively.
Or higher this year...
The stock is up 19% since April 22. Geez, it does not need to go up every day. Please wait until the EPS report, and guidance for fiscal 2014. All longs will be satisfied after that... Be patient!
This is all positive...
Now the stock is building a nice-looking base. The pattern on the weekly chart has a tighter look than previous bases, which is good. Some of the down weeks in rising volume — such as the weeks ended March 15 and April 5 — actually point to institutional accumulation because of the high closes.
Overall, the base doesn't suggest much institutional selling. The Accumulation/Distribution Rating was A when the base began forming and it is B+ now.
The base is first stage because previous breakouts didn't rise 20% or more.
Research shows that breakouts from a first- or second-stage base are more likely to work than a breakout from a later-stage base.
Kors' fundamentals are strong. Pretax margin was 21% in fiscal 2012 ended in March, the third annual increase in a row. Return on equity, a gauge of financial efficiency, was 57%, well above the 17% minimum associated with elite stocks.
At the earnings call in February, an analyst asked a question about comp guidance: "Is there any specific reason that we should see deceleration?"
Idol's response: "I smiled slightly when you say deceleration. You kno to plan 20% plus comp store growth is pretty healthy ... this 40% comp store growth is not going to go on forever."
Kors' annual EPS grew 200% in fiscal 2010, then 81% and 129%. The Street estimates EPS will jump 114% in fiscal 2013. But views see deceleration to 31% growth in 2014.
Macy's saw weakness in low budget items, and strength in luxury....mmmmm
Macy's with a nice beat today, and the stock is up 2% pre-market. I will listen to the conference call for the color....retail is strong and on the rise!