30.40 0.00 (0.00%)
After hours: 5:08PM EDT
|Bid||30.49 x 3000|
|Ask||30.50 x 2200|
|Day's Range||30.00 - 30.55|
|52 Week Range||27.93 - 54.35|
|Beta (3Y Monthly)||1.15|
|PE Ratio (TTM)||12.53|
|Earnings Date||Aug 15, 2019|
|Forward Dividend & Yield||1.35 (4.46%)|
|1y Target Est||43.54|
(Bloomberg Opinion) -- Burberry Group Plc just pulled a rabbit out of its vintage check hat. The British luxury brand – which is in the middle of a business turnaround – reported same-store sales growth of 4% in the three months to June 29, double what was expected by analysts. The performance is all the more notable given the disruption to its Hong Kong stores from the city’s recent protests.Under creative director Riccardo Tisci, the company is trying to move its handbags and clothes up-market to compete with the likes of Louis Vuitton and Christian Dior. Tisci’s new monogram, based on the initials of the founder Thomas Burberry, is proving a hit with Chinese millennials. Having the Burberry name emblazoned on bags and sweatshirts is winning the hearts of young Asian shoppers, as are the limited edition “drops” of products sold via Instagram and China’s WeChat.Tisci’s collection now makes up about half of the Burberry range and its sales rose by a “strong double-digit percentage.” The shares jumped more than 10% on Tuesday after the sales update was published, taking the increase since the end of May to 30%. Sterling’s weakness is helping too.Investors are clearly betting that Tisci’s creations can do the same thing for Burberry that Gucci’s recent success did for the French luxury group Kering SA. And with more of his collection due in the next nine months, there are some grounds for optimism. Burberry estimates that three-quarters of its product range will be from the new designer by March next year.But Burberry isn’t free of its recent travails quite yet. It still has a lot of old stock hanging around and a U.S. distribution network that needs refreshing. As a result, the company maintained its outlook for flat revenue and operating profit margin for this financial year.Keeping a lid on expectations at this stage is wise because there’s scope for setbacks. While Chinese shoppers have led the Burberry revival, sales to them now account for about 40% of the group total. That means any trade war-related consumer slowdown might hurt demand.Burberry also needs to better exploit the Tisci buzz. It still doesn’t seem to have gained the traction that Gucci did in the early stages of its recovery, when everyone from Beyonce to One Direction’s Harry Styles sported the label.There’s a lot riding on this turnaround. If it works, Burberry could take a leading role in fashion industry consolidation; it had 837 million pounds ($1 billion) of net cash to play with at the end of March. You could see an attempt to create a British luxury empire to rival those being built in the U.S. by Capri Holdings Ltd. and Tapestry Inc.If the recovery stalls, though, that cash balance will look mightily attractive to other industry predators. Burberry may still end up in someone else’s fashion collection.To contact the author of this story: Andrea Felsted at email@example.comTo contact the editor responsible for this story: James Boxell at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Today we are going to look at Tapestry, Inc. (NYSE:TPR) to see whether it might be an attractive investment prospect...
A meticulous analysis may reveal the reasons as to why it is the right time to buy Tapestry's (TPR). Valuations might have just started looking attractive.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
If there's a bigger IPO story in 2019 than Beyond Meat (NASDAQ:BYND), I'd love to know what it is. Beyond Meat stock gained 163% in its first day of trading May 2. Through June 27, it's up 542%, trading at more than six times its IPO price of $25. It doesn't get much better than an annualized total return of 3,200%. In early June, InvestorPlace contributor Luce Emerson suggested investors ought to take profits on Beyond Meat stock. At the time it was trading around $140; it has since added another 13% over three weeks. InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt can't keep going higher, can it? I've been on the plant-based foods bandwagon for a while, so I believe that anything is possible. Last October, I recommended Tyson Foods (NYSE:TSN) in large part because of its investment in Beyond Meat. Tyson sold its stake in April before the IPO because it planned to create its own plant-based protein products, putting it in direct competition with Beyond Meat. * The 7 Top Small-Cap Stocks Of 2019 However, as much as I believe in plant-based foods, Beyond Meat stock is ridiculously expensive. Therefore, I thought I would recommend seven of the best stocks to buy for the same price as one share of Beyond Meat stock. Here's what I've found. Best Stocks to Buy: Cactus (WHD)Oil Drilling SunriseI had never heard of Cactus (NYSE:WHD) until reading an article about the maker of oil-drilling equipment a few days ago. However, I wanted to recommend one stock from seven different sectors and it seemed like a solid pick from the basic materials sector. As I write this, WHD is trading around $33, about 22% off its 52-week high of $40.97. Cactus reported its 2019 first-quarter results in early May. They were very positive, with sales up 13.6% on a sequential basis from the fourth quarter to $158.9 million. On the bottom line, adjusted net income rose 9% on a sequential basis to $36.9 million. On a year-over-year basis, revenues and adjusted net income increased by 38% and 43%, respectively. More importantly, Cactus saw revenue growth across all three of its operating segments, a positive sign considering rig counts continue to decline. Cactus has $88 million in cash, no long-term debt, and all of its revolving credit facility available. The company expects to spend up to $65 million in fiscal 2019 on capital expenditures, which means free cash flow could go over $100 million on the year.Trading at a forward P/E of 14, Cactus is a diamond in the rough. Tapestry (TPR)Source: Shutterstock Ever since the owner of Kate Spade and Stuart Weitzman announced in 2017 that it was changing its corporate name from Coach to Tapestry (NYSE:TPR), its stock has been on a downward spiral, trading about 23% lower than two years ago. If you look at its most recent earnings report from early May, Tapestry's business isn't doing that badly, with overall revenue of $1.33 billion in the third quarter, $10 million higher than a year earlier, and non-GAAP operating income of $141 million, $43 million lower than a year earlier. Through the first nine months of 2019, however, Tapestry had an operating profit of $725 million on $4.51 billion in sales for an operating margin of 16.1%, considerably higher than its operating margin in the third quarter. Happy that it's on target to meet its financial goals in 2019, Tapestry's board's approved a $1 billion share repurchase program to buy back its stock. Given TPR stock is down almost 7% year to date through June 26 and its free cash flow of $747 million over the trailing 12 months is higher than it's been in some time, now is an excellent time to reduce the share count. * The Top 8 Tech Stocks of 2019 (So Far) If not for Kate Spade's poor performance, TPR stock would be much higher. In my opinion, it's an underappreciated consumer goods stock, ready to move higher. Tanger Factory Outlet Centers (SKT)Source: Shutterstock The past five years have not been kind to Tanger Factory Outlet Centers (NYSE:SKT). The retail REIT has an annualized total return of -8.8%, considerably worse than its retail REIT peers, who're up 2.5% over the same period. In September 2017, I recommended Dividend Aristocrats, suggesting that a low stock price combined with a high occupancy rate should provide REIT investors with both income and growth. At the time of my recommendation, it was trading around $24. Down 33% in the 22 months since, I'm suggesting doubling down isn't the worst idea in the world. Here's why: Tanger's first-quarter results saw its occupancy rate drop by 50 basis points to 95.4%. That's only 70 basis points lower than where it was September 2017. In Q1 2019, Tanger sold four non-core outlet centers for gross proceeds of $130.5 million. The four centers accounted for 5.1% of the REITs 2019 portfolio net operating income (NOI). The four centers averaged 24 years of age and didn't fit the company's plans for future growth. If you consider that almost every financial metric of the four centers sold wasn't nearly in line with its other 40, the fact that it has been proactive about under-performing assets is a good sign. For the year, Tanger expects its funds from operations (FFO) to be at least $2.22. Trading at 7.1 times FFO, SKT stock is an excellent value at current prices. Petmed Express (PETS)Source: Shutterstock You might be wondering why I keep recommending value stocks.When you get a stock like Beyond Meat that's trading at 80 times sales, in a market that's also reasonably expensive, the only way to get seven stocks to buy for less than $158 is by considering some of the value plays that are out there. Petmed Express (NASDAQ:PETS) is one such stock, trading within 5% of its 52-week low and valued at only 1.2 times sales. It's the antithesis of Beyond Meat. On June 20, PETS hit a four-year low on fears the online pet pharmacy would be unable to compete with Amazon (NASDAQ:AMZN) and Walmart (NYSE:WMT), who announced in May that it would open 100 veterinary clinics over the next 12 months as well as Walmart Pet RX, an online pharmacy, to save pet owners money on their prescriptions.In fiscal 2019, PetMed's revenues grew by 3.5% to $283.4 million with a profit of $37.7 million, 1.2% higher than a year earlier. CEO Menderes Akdag admitted the market has become more competitive in recent years. To fight off the competition, PETS stock is maintaining low prices, increasing advertising, and investing in its e-commerce business. * 7 Stocks to Buy for a Dovish Fed With no debt, $100 million in cash, and almost $45 million in free cash flow, a private equity buyer has to be interested in taking it private. CAE (CAE)Source: Shutterstock Captain Chesley "Sully" Sullenberger appeared before a congressional panel June 19 arguing that all pilots should get new flight simulator training before returning the grounded Boeing 737 MAX to service. While Sullenberger believes simulator training is necessary, Boeing thinks differently: they believe a one-hour computer-based course educating pilots on the updates to the MCAS software used in the 737 is all that's required to get them up to speed. If you own CAE (NYSE:CAE) stock, you're likely hoping that the Federal Aviation Administration listens to Sullenberger and not Boeing (NYSE:BA), because it could mean more revenue for the Montreal-based company that specializes in full-flight simulators.CAE got its start in 1947 under the name Canadian Aviation Electronics. Initially, CAE repaired and overhauled military aircraft. Today, it trains more than 220,000 civil and defense crew members around the world. CAE reported its Q4 and 2019 results in May. On the top line, it had annual sales of C$3.3 billion, 17% higher than a year earlier. On the bottom line, adjusted net income was C$335.2 million, 13% higher than in 2017. Over the past year, CAE's civil aviation business sold 78 full-flight simulators as well as booking $2.8 billion in future orders for training and simulators. As commercial air flight becomes more popular outside North America, CAE's global presence will continue to grow. Fastenal (FAST)Source: Shutterstock If you've owned Fastenal (NASDAQ:FAST) stock over the past few years, you're probably pleased about its performance. Up 16% on an annualized basis over the past 10 years, the distributor of industrial and construction products continues to change with the times. One of the distributor's newer growth initiatives are the industrial vending devices it introduced in 2008. FAST offers 23 different versions to customers, each device generating from $1,500 to $3,000 per month. At the end of the first quarter, Fastenal had 83,410 industrial devices in the field, a ratio of 27 vending devices to one in-market location, which is defined as both public branch locations and Onsite locations at a customer's facility. The number of Fastenal's industrial vending machines grew by 13.4% in the first quarter.In terms of profits, Fastenal made $194.1 million in the first quarter, 11.4% higher than its profit a year earlier. Due to fewer shares outstanding as a result of share repurchases, the company's earnings per share increased by 11.9% in the first quarter. Although FAST stock's gross profit margin was 100 basis points lower in the first quarter at 47.7%, its operating margin was 20%, 20 basis points higher than a year earlier. * 10 Best S&P 500 Stocks to Buy For the Rest of 2019 Trading at a forward P/E of 21.2, Fastenal stock is currently valued at less than its 5-year historical average P/E of 25.3.I continue to see solid growth at Fastenal. Opera (OPRA)Source: Hillary via FlickrNorwegian browser Opera (NASDAQ:OPRA) went public in July 2018 at $12 a share. Almost a year later, it's trading below its IPO price, but well above its 52-week low of $5.31 that it hit in December. Up 87% year-to-date through June 26, if you bought earlier this year, you made a smart purchase. Does it have more gas in the tank? I think it does. On June 26, Opera released an iOS version of its web browser, to add to the Android and PC versions that already exist. Opera's browser includes a crypto wallet that allows users to "seamlessly interact with the next generation of Web 3 applications on the Ethereum blockchain," stated the company press release. With Opera's browser, getting into using cryptocurrencies just became that much easier. Opera also launched Opera News in January 2017 as part of its mobile browsers. Two-and-a-half years later, Opera News has reached 150 million monthly active users, almost twice as large as Apple News. On May 22, Opera announced its first-quarter results. Revenues were up, while profits were down. In 2019, it expects revenues to be at least $230 million (34% growth) with adjusted EBITDA of between $30 million and $45 million. As Opera News continues to gain traction, profits in 2020 and beyond will continue to grow. Opera is the sleeper stock of the seven.At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 7 Top Small-Cap Stocks Of 2019 * Critical Levels to Watch in 7 Marijuana Stocks * 5 Smaller Cloud Stocks That Have Plenty of Potential Compare Brokers The post 7 Stocks to Buy for the Same Price as Beyond Meat appeared first on InvestorPlace.
Tapestry, Inc. (NYSE:TPR), which is in the luxury business, and is based in United States, received a lot of attention...
Tapestry Inc (NYSE: TPR ) announced its new chief financial officer hire Wednesday. The Analyst Baird analyst Mark Altschwager reiterated an Outperform rating on Tapestry with a $43 price target. The ...
Shares of Coach and Kate Spade parent Tapestry Inc. said Wednesday it named Joanne Crevoiserat as its chief financial officer, effective Aug. 1. Crevoiserat was most recently Abercrombie & Fitch Co.'s chief operating officer from February 2017 to June 2019. Crevoiserat will succeed interim CFO Andrea Resnick, who held the helm after Kevin Wills departed in February 2019. "As we continue to implement our portfolio strategy, I am confident that Joanne is the right leader and strategic business partner to our teams as we drive Tapestry's next chapter of growth as a global house of brands," said Chief Executive Victor Luis. Tapestry's stock, which was still inactive in premarket trading, has lost 10.2% year to date, while Abercrombie shares have tumbled 21.5%, the SPDR S&P Retail ETF has gained 3.5% and the Dow Jones Industrial Average has advanced 13.5%.
Tapestry, Inc. (TPR), a leading New York-based house of modern luxury accessories and lifestyle brands, today announced the appointment of Joanne C. Crevoiserat, as Chief Financial Officer, effective August 1, 2019. Ms. Crevoiserat joins from Abercrombie & Fitch Co., where she served as Executive Vice President and Chief Operating Officer from February 2017 to June 2019. Prior to joining Abercrombie & Fitch, she served in a number of senior management roles at Kohl's Inc. including Executive Vice President of Finance and Executive Vice President of Merchandise Planning and Allocation.
Since Tapestry, Inc. (NYSE:TPR) released its earnings in March 2019, analysts seem cautiously optimistic, with profits...
Allianz SE said on Friday it closed its acquisition of a stake in New York's second-tallest office tower for 342 million euro ($384 million) and an undisclosed amount of debt, increasing its footprint in the city's fashionable Hudson Yards. Allianz said in a statement it acquired a 49% equity interest in 26 floors at 30 Hudson Yards previously owned by AT&T's WarnerMedia. The deal's closing makes New York the fifth most significant city for Allianz's real estate portfolio, the German insurer said.
Kate Spade New York has entered into a 11-year licensing deal with a French company to create new line of fragrances and expand its international presence. Interparfums SA, a majority-owned Paris subsidiary of Inter Parfums, Inc., will have exclusive rights to produce and distribute Kate Spade branded fragrances for sale in department and specialty stores, duty-free shops and Kate Spade New York retail stores beginning in fall 2020, Beauty Packaging reported. The Kate Spade brand’s youthful, colorful spirit and touch of humor give it a unique and entirely new position within our portfolio which will allow us to develop very creative projects closely aligned with the image conveyed by Nicola Glass, its creative director,” said Jean Madar, chairman and chief executive officer of Interparfums, Inc. The company’s other fragrance brands include Coach, which did nearly $100 million in sales last year, per Women’s Wear Daily, as well as Jimmy Choo, Guess, Oscar de la Renta and Abercrombie & Fitch.
After hosting an investor dinner with several Tapestry Inc (NYSE: TPR ) executives including CEO Victor Luis, Piper Jaffray maintains its bullish stance on the company. The Analyst Piper Jaffray analyst ...
Looking for stocks with high upside potential? Just follow the big players within the hedge fund industry. Why should you do so? Let’s take a brief look at what statistics have to say about hedge funds’ stock picking abilities to illustrate. The Standard and Poor’s 500 Index returned approximately 12.1% in 2019 (through May 30th). Conversely, hedge […]
Tapestry (TPR) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Abercrombie & Fitch shares plummeted after fiscal first-quarter earnings, but analysts think the current decline is a precursor to a successful business transformation.
Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is...
Capri reported Wednesday that comparable sales for the Michael Kors brand decreased 1 percent in the fourth quarter from a year earlier. Executives said the decline reflected a number of factors, including a drag from its watch business and from efforts to transition its jewelry to a higher price point.
Tapestry Inc. announced that Tom Glaser has been appointed chief operating officer, effective July 15, 2019. Glaser joins from The North Face parent VF Corp. where he was president of supply chain. He joined that company in Asia in 2001. Tapestry's brands include Coach, Stuart Weitzman and Kate Spade. Tapestry stock has tumbled nearly 13% for the year to date while the S&P 500 index has gained 11.8% for the period.
Tapestry, Inc. (TPR), a leading New York-based house of modern luxury accessories and lifestyle brands, today announced the appointment of Thomas A. Glaser, as Chief Operations Officer, effective July 15, 2019. Mr. Glaser will have responsibility across the end-to-end supply chain and the information technology backbone for Tapestry and its brands with functional oversight including product development and manufacturing resources, distribution, logistics, replenishment, ecommerce fulfillment and IT.
Tapestry, Inc. , a leading New York-based house of modern luxury accessories and lifestyle brands, today announced that the Company will present at the Bernstein Strategic Decisions Conference in New York City on Thursday, May 30, 2019 at 2:00 p.m.
Despite escalating trade tensions, a number of stocks are looking relatively cheap compared to the past as well as future growth prospects.