Michael Kors (KORS) Still Popular Among Teens, Although Accessories Spending is Down - Piper Jaffray

October 13, 2016 4:24 PM EDT
Get Alerts KORS Hot Sheet
Price: $48.95 -1.31%

Rating Summary:
    10 Buy, 27 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
Trade KORS Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.

Piper Jaffray's 32nd semi-annual Taking Stock With Teens survey showed that the accessories backdrop is tepid but Michael Kors (NYSE: KORS) is still tops in handbags. Kate Spade (NASDAQ: KATE) moves up to no. 2 and Coach (NYSE: COH) was a stable no. 4. For watches, Fossiel (NASADAQ: FOSL) decelerated.

Analyst Erinn Murphy commented: "Spending on accessories from upper-income females is down 5% Y/Y to $143/year. Spending intent also reversed with 64% of females saying they do not plan to buy a handbag in the next six months—higher than the 61%-level last year. KORS was the No. 1 handbag brand, gaining 300 bps share Y/Y for UI teens. KATE (not covered) moved up considerably securing its No. 2 spot and COH was stable with 10% share at No. 3. 71% of teens indicate they do not want a watch. The FOSL portfolio decelerated 300 bps to 24% of all watch brands listed (vs. 27% last year)."

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments

Related Entities

Piper Jaffray, Erinn Murphy

Add Your Comment