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Today’s Research Reports on Stocks to Watch: Michael Kors and The TJX Companies

NEW YORK, NY / ACCESSWIRE / November 8, 2018 / Shares Michael Kors dropped in Wednesday’s trading session and also hit a new low after reporting earnings. TJX shares saw some gains on no news from the Company other than the announcement that it will be reporting its Q3 FY19 results on November 20, 2018.

RDI Initiates Coverage on:

Michael Kors Holdings Limited
https://rdinvesting.com/news/?ticker=KORS

The TJX Companies, Inc.
https://rdinvesting.com/news/?ticker=TJX

Michael Kors Holdings Limited shares were down 14.62% on about 14.6 million shares traded on Wednesday. The high-end apparel and accessory company hit a new low of $47.47 yesterday after releasing a concerning second quarter financial report. Michael Kors reported adjusted non-GAAP earnings per share of $1.27 on revenue of $1.25 billion. While earnings per share beat the analyst estimate for $1.10, revenue trailed behind the $1.26 billion expectation. The company maintained its guidance for full-year fiscal 2019 revenue of roughly $5.125 billion. The sales miss came just weeks after the company announced its plans to acquire Versace for $2 billion. "The step back in their core fundamental Michael Kors business could not come at a worse time, as the company recently announced the acquisition of Versace — which many investors already had a problem with — and now Michael Kors carries an unfavorable trajectory right as they are about to layer in a deal that is planned to be high-single digit dilutive to year one,” wrote Wells Fargo analysts.

Access RDI’s Michael Kors Holdings Limited Research Report at:
https://rdinvesting.com/news/?ticker=KORS

Shares of TJX Companies, the parent company of TJ Maxx and Marshalls, saw gains of 1.19% on Wednesday. There was no significant news from the company, but it was revealed that TJX will be announcing its third quarter Fiscal 2019 sales and earnings results on Tuesday, November 20, 2018, before 9:30 a.m. ET. In the second quarter sales for the company jumped 11.6% to hit $9.3 billion. Analysts had been expecting $9 billion. Same store sales for the second quarter also jumped 6%. It was the 16th straight quarter that the company saw higher consumer traffic. The company said during the time that it expects its overall sales in fiscal 2019 to be in the range of $38.2 billion to $38.4 billion. This is compared to $35.9 billion in fiscal 2018. The company expects its fiscal 2019 same-store sales growth to be in the range of 3 to 4%. Previously TJX had guided for 1 to 2%.

Access RDI’s The TJX Companies, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=TJX

Our Actionable Research on Michael Kors Holdings Limited (NYSE: KORS) and The TJX Companies, Inc. (NYSE: TJX) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com