Brooklyn Getting its First Michael Kors, Fossil and Justice Stores
BY LAUREN ELKIES SCHRAM 3/26 5:20PM
South Brooklyn’s Kings Plaza Shopping Center will be home to the borough’s first Michael Kors, Fossil and Justice stores, the mall announced.
Michael Kors, which sells sell apparel, accessories and footwear, leased 4,000 square feet at the borough’s only enclosed mall. Fossil will sell its watches, handbags and jewelry out of a 1,100-square-foot space at the mall and Justice girls clothing store will sell its duds from a 4,200-square-foot space.
The 1.1 million-square foot, two-story mall at 5100 Kings Plaza, which is owned and operated by real estate investment trust Macerich, sits on the waterfront and is one mile north of the Belt Parkway.
Michael Kors will open in the fall. Fossil will open in the spring and Justice is set to open during the holiday season.
That is one of the better pieces I have read about KORS recently. This paragraph is telling…
Action to Take -- KORS has emerged as a premier growth stock in the affordable luxury space, with the potential to outperform RL, the rest of the industry and the broader market in coming years. With EPS projected to rise more than 25% a year for the next five years, shares have 125% upside by 2019, assuming a price-to-earnings (P/E) multiple in line with the current industry average of 23.
With a trailing (P/E) multiple of 32, KORS may seem too pricey right now -- but I don't think it is. With earnings likely to climb at a well above average rate, the stock's current premium is justified.
Every quarter I receive portfolio reports in the mail from my broker, and I have been receiving them since 1976. Typically, the reports do not show extreme movements one way or the other. This quarter the portfolio will show the typical gains/losses in blue chip stocks I own IBM, KO, MCD (KO being the worst perfumer this quarter). KORS will be showing gains this quarter from $81 to $91, and that is the type of performance that one hopes for when owning a growth stock.
I have owned stocks since the 1970's when my dad bought shares of blue chips like IBM, KO, and MCD. We would get the morning paper and check out their performances to see if they went up 1/8, 1/4, 3/8 on the day. That is how I got "hooked" on stocks.
Nowadays, people must try to analyze every one minute movement of a stock, and it is quite crazy. The "information age" has made us all way too analytical and it affects people's judgements. This started in the late 1990's when "day trading" became in "vogue" until everyone lost their shirts, and started jumping out of building. If you sit back and take a look at a quarterly report, and buy winning stocks you can outperform the markets by buying/adding to winning stocks.
People become panicky when a stock they own goes down a few points. When, in all likelihood, the stock is just going through a natural process. In regards to KORS, the stock has been in an uptrend since the IPO! Did it go straight up? No! In fact, KORS sold off hard (from $84 to $74) prior to the latest EPS report.
I am looking forward to my portfolio report this quarter as the dividends I collect from the blue chip stock will be accented with a healthy $10 gain in KORS. The trend has not changed!
LULU margins are eroding. Under Armour and others are providing stiff competition. LULU had their days as a growth stock. Those days are over. This will happen to KORS also.
But, not for some time...
For the fourth quarter ended February 2, 2014:
Net revenue for the quarter increased 7% to $521.0 million from $485.5 million in the fourth quarter of fiscal 2012. The fourth quarter of fiscal 2013 consisted of 13 weeks while the fourth quarter of fiscal 2012 consisted of 14 weeks. Net sales for fiscal 2012 include the additional week; however comparable stores sales calculations exclude the 14th week.
Comparable stores sales for the fourth quarter decreased by 2% on a constant dollar basis. Total comparable sales, including comparable stores and direct to consumer, increased 4% for the fourth quarter on a constant dollar basis.
Direct to consumer revenue increased 25% to $97.8 million, or 18.8% of total Company revenues, in the fourth quarter of fiscal 2013, an increase from 16.1% of total Company revenues in the fourth quarter of fiscal 2012.
Gross profit for the quarter increased by 2% to $278.8 million, but as a percentage of net revenue gross profit decreased to 53.5% for the quarter from 56.5% in the fourth quarter of fiscal 2012.
Income from operations for the quarter increased by 1% to $154.1 million, and as a percentage of net revenue was 29.6% compared to 31.4% of net revenue in the fourth quarter of fiscal 2012.
The tax rate for the quarter was 29.5% compared to 29.0% a year ago.
Diluted earnings per share for the quarter were $0.75 on net income of $109.7 million, compared to diluted earnings per share of $0.75 on net income of $109.4 million in the fourth quarter of fiscal 2012.
For the fiscal year ended February 2, 2014:
Net revenue for the fiscal year increased 16% to $1.6 billion from $1.4 billion in fiscal 2012. Fiscal 2013 consisted of 52 weeks while fiscal 2012 consisted of 53 weeks.
Profit-taking before earnings season must be expected. A correction is healthy for this market.
I would like to see those companies with excellent fundamentals and earnings growth be rewarded. It gets frustrating watching stocks with zero earnings and negative revenue growth just soar for no reason.
KORS will deliver a beat and raise quarter I am not worried about that.
don't worry you fool, it will be green today
I guess you cannot predict the market as well as you thought?
You certainly were wrong about KORS being green today...
You are the fool who posted "KORS will be green today."
Long term investors do not expect stocks to go up daily. KORS business is great, and the stock is doing well too. You are the only person who claims to have a crystal ball and can predict mark moves daily. The rest of us know better….
KORS is 9% off its all-time high, and is actually holding up really well in comparison to many other growth stocks who are trading below their 10 week lines in heavy volume. FB, TWTR, UBNT, FEYE, JAZZ, CELG, GILD, REGN, ILMN have all sold off with heavy volume and have pierced their 10 week lines. Does this mean these stocks are junk? No! It just means that they are being sold because of profit taking. Many of these will rebound after earnings season.
For traders, it is time to be prudent and preserve capital when you see the growth index (Nasdaq) taking such nasty hits on a daily basis. For investors, it is a time to add to the portfolio. In the long run this will be a healthy correction for many of the growth stocks. I am sure there will be some rotation and a few new leaders will emerge.
I do not really care where it trades in the next few months. I do not care if it trades down to $84 and fills a gap.
That would be a buying opportunity. I believe KORS will be worth $120 to $160 this year.
Biotech has been slammed recently, and why not? That is where there is a ton of profit as they have had monster gains in the past year.
I own NVO which is holding up well with a small dividend and share repurchase program.
I want to buy CELG but it is not showing any sign of stabilizing. The Nasdaq is correcting more than other indices. This is healthy going forward.
I do like PVH as a company, and believe they are well run. They have a variety of brands that I purchase like: Ralph Lauren and licenses for Kenneth Cole and Michael Michael Kors merchandise.
I do not like to hear a CEO talk about the weather as an excuse for a lack of business though.
I do not own PVH stock though...
NFLX has pierced its 10 week line in heavy volume.
PVH is up $7 on a lackluster report. IBM has been parabolic since Yellen spoke last week.
UA is stabilizing.
This is the last week of the quarter, and profit taking is expected.
I would not read too much into this week's action.
Longer term KORS will trade much higher than the current $93…. I can wait...
PVH Corp. Reports 2013 Fourth Quarter and Full Year Results and Announces 2014 Outlook
FOURTH QUARTER NON-GAAP EPS OF $1.43 EXCEEDED GUIDANCE OF $1.40; GAAP LOSS PER SHARE WAS $(0.46)
FULL YEAR NON-GAAP EPS OF $7.03 EXCEEDED GUIDANCE OF $7.00; GAAP EPS WAS $1.74
COMPANY MADE $500 MILLION OF DEBT REPAYMENTS DURING 2013
2014 NON-GAAP EPS PROJECTED TO INCREASE TO $7.40 TO $7.50, DESPITE ONGOING INVESTMENTS AND AN UNCERTAIN MACROECONOMIC ENVIRONMENT
Luxury Brands Are Targeting Global Yummies: Young Urban Males
By Kyle Stock March 25, 2014
These days, a brand with a solid smartphone store can capture opulent returns around the world. Burberry, for example, is now streaming its runway shows online and working on a plan called ‘Customer 360′ to track an individual’s buying habits worldwide.
The report points to a handful of luxury companies making significant investments in luring male shoppers. Michael Kors (KORS), for example, is hoping to grow its annual menswear revenue to $1 billion, which would amount to almost a sevenfold increase. Coach, meanwhile, is close to that goal, having expanded its sales to men from $100 million in 2010 to about $700 million today.
Yes, the retail space has seen some selling pressure. But, it has been pretty tame. Growth stocks in general have seen some profit taking right before the end of the quarter, and that is to be expected. The biotech space has been hit the hardest, and they had some big gains to absorb. JAZZ, GILD, REGN, CELG all took big hits recently. I look for them to start to recover.
raskolnikov88 is right in stating "KORS is best of breed" and that will not change any time soon. Stocks go up an down, and if you are going to hold them long term then you are going to experience some of this type of action. KORS will trade between $120 and $160 this year, and I can wait.
A garden variety correction is not surgery. This is a relatively tame pull back on light volume. NOt a big deal...
I expect more selling. The lower she goes the bigger the bounce… Now, it is starting to behave like the old KORS...