All one needs to do is refer to the weekly charts. KORS is 4.5% off its all-time high, and could get there by the end of the week? If you have traded KORS for any time at all then you know it does not trade with the markets.
Good Lord they sound #$%$. Go to the Michael KORS stores and ask about their "discounts" being offered. It will be 10% off on only one of their bracelets. Ridiculous call by Wedbush. If you want to see discounts then go to JC Penney...
I will get ahead of the analysts and say that KORS will beat and raise again this quarter. Their comps will be "around" 20% and their revenues will beat by more than their EPS on a percentage basis.
If they wanted to rip KORS they need to start with their weak mobile platform...
I rip em for that as it is inexcusable...
I would argue that Wedbush is playing Santa Claus for those who want to load up on KORS stock for 2014! Today was a gift, and technically a perfect day as it bounced right off its ten week line. These analysts ambush KORS five or six times per year,and the stock always bounces back. Check the weekly chart, and you will know that KORS will be over $90 in February and over $100 in the spring.
So, the slow mall traffic and discounts are solely related to KORS? I see all retailers up today. Therefore, the slow mall traffic must not affect any other retailer. I go shopping more than any of these analysts, and I can tell you the demand for Michael KORS is overwhelming! The lines at their stores are stupid long as they have brand power. Ask any Macy's or Nordstrom's sales person and they will tell you the same thing. Also, The discounts were the same as last year.
Michael KORS has 30% more stores this quarter than last year, and they are selling better than ever. John Idol has been saying for two years that "normalization" will occur at around 20% same store sales, and with 400 stores it will be hard to have more than 20% same store sales. That is still a phenomenal number.
Michael KORS has been to Milan twice and Tokyo once for new store openings just this quarter. The revenues from these regions will be greater than ever. They know the North American market will get saturated at some point, and they will need to increase revenues abroad.
The bottom line ins that KORS is still taking market share from Coach in North America, and starting to dominate in Europe. They will beat and raise again this quarter, after offering a beat and raise Q2 in November.
KORS traded down to its ten week line today for the first time since November 4 (day prior to earnings) when two analysts (Jeffries & Wells Fargo) put out conservative notes prior to the EPS report.
KORS has 30% more stores this year than in Q3 2013! Even of same store sales are flat, we can expect at least 30% increase in sales. I suspect 40% or better....
Luxury brand Michael Kors has opened a store in Fashion Fair mall, adding to Fresno's short list of high-end retailers.
It's the designer's first store in the central San Joaquin Valley and opened Thursday in the outdoor portion of the mall. It sells purses, jewelry, shoes, sunglasses and a limited selection of clothing.
The brand is described as "attainable luxury" by Fashion Fair marketing manager Kelly Tallant-Martin.
There are no price tags visible on most items, but prices of the store's holiday collection of purses range from $298 to $398. Other items range from $98 to about $500, she says.
Many items, like pairs of flats, feature the prominent gold "MK" logo.
The Michael Kors brand is on par with Louis Vuitton, Tallant-Martin says.
Michael Kors was discovered as a young designer by the fashion director at New York's Bergdorf Goodman department store. The label became a global brand and has stores in Milan, Paris and Beverly Hills.
But it's also sold at Macy's in Fresno.
"Michael Kors is actually one of the strongest brands at Macy's," Tallant-Martin says. "It speaks to the strength of the Fresno retail market."
Customers will likely find different items in Michael Kors stores than in Macy's, with the stores getting new releases first and merchandise exclusive to those stores, she says.
But, the stock was badly lagging the Nasdaq (growth index) which gained 2.6% on the week. The Friday action in KORS was disappointing considering the rise in the nasdaq coupled with the accelerating volume in which KORS lagged. A decent week for KORS but not great at all, as it appears to be hitting resistance at the upper end of the channel.
May be time for this one to rest for a bit?
Michael Kors Leads In Brand Strategy And Marketing Initiatives
NEW YORK, Dec. 20, 2013
NEW YORK, Dec. 20, 2013 /PRNewswire/ -- Michael Kors is pleased to announce the following:
Google ranked Michael Kors the second most-searched-for high-fashion brand of the year in its Zeitgeist 2013 report—two steps up from the brand's number four spot on the same list last year. Michael Kors is one of only two brands that remained on the list of top-searched high-fashion brands from last year.
Social media analyst Starcount named Michael Kors the top fashion brand on social media for 2013 amid such competitors as Chanel, Louis Vuitton and Burberry. The data aggregator highlighted the partnership with Instagram in the innovative launch of Instagram ads, and noted the expansion of the brand's total social audience across all platforms by nearly seven million.
Sydney Finkelstein, professor of strategy and leadership at Dartmouth's Tuck School of Business, named Michael Kors Chairman and CEO John D. Idol one of the top CEOs of the year, citing the company's world-class strategic marketing. Finkelstein ranked Idol number four, following Jeff Bezos (Amazon), Akio Toyoda (Toyota) and Pony Ma (Tencent).
"As a company, we believe that this dynamic and integrated approach to marketing will better inform, engage, educate and inspire our customers as we continue to grow our brand awareness globally," says Idol. "It's very exciting to see our efforts succeed and our successes acknowledged. I'm extremely proud of the teams that we have in place—we set high targets for 2013 and we achieved our goals. Now, we're looking forward to keeping our momentum going."
Nine West owner Jones Group (JNY) sealed a $1.2 billion pact this week to be acquired by private-equity firm Sycamore Partners.
The transaction comes about five months after reports swirled indicating the fashion company had hired Citigroup (C) to explore a possible sale amid pressure from activist hedge fund Barington Capital.
Sycamore Partners, which has ample experience investing in retail companies, agreed to pay $15 per share in cash, representing a 19% premium on Jones Group’s 30-day volume weighted stock price before April 11, when media speculation about a sale first emerged. The bid represents a 6% premium on Jones Group’s Thursday close of $14.13.
“This business, which I founded nearly 45 years ago, has expanded into a global portfolio of powerful brands. I am proud of our heritage and believe The Jones Group's brands will thrive through our partnership with Sycamore,” Jones Group Chairman Sidney Kimmel said in a statement.
In addition to Nine West, Jones Group’s brands and licensing agreements include Anne Klein, Jones New York, Kurt Geiger and Rachel Roy.
The volume was pretty heavy to the downside today as it is the third Friday of the month, and options expire.
The market makers sure do have fun moving this thing around every day...
I do not believe much of what the government spins to the public. They definitely need to justify the latest fed move so there is some motivation there? That is a macro number anyway, and does not really affect a micro niche market like affordable luxury that KORS is dominating right now. The number is definitely moving the market today. Too bad KORS does not want to participate....