Michael Kors (KORS) Tops Q2 EPS by 11c
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November 5, 2015 6:51 AM EST
Piper Jaffray analyst Erinn Murphy reiterate an Underweight rating and $38 price target on Michael Kors (NYSE: KORS) following Q2 results. There is no change to the firm's bearish thesis.
Murphy commented, "We reiterate our UW rating on shares of KORS following the... More
November 4, 2015 2:43 PM EST
Mizuho Securities reiterated a Neutral rating and $42.00 price target on Michael Kors (NYSE: KORS) following the company's 2Q earnings report. While management reiterated KORS solid position given +MSD accessories growth, with dollar growth impacted by a shift to lower AUR small leather goods/cross... More
November 4, 2015 7:37 AM EST
(Reuters) - Handbag and accessories maker Michael Kors Holdings Ltd (NYSE: KORS), one of hottest names in "affordable luxury", reported better-than-expected second-quarter sales and profit, helped by new offerings such as cross-body satchels and large wallets.
New store openings also helped sales rise nearly 7 percent in the three months ended Sept. 26, in line with the first quarter but a far cry from the growth rates of 30 percent or more the company regularly achieved since going public in 2011.
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November 4, 2015 7:32 AM EST
By Caroline Valetkevitch
(Reuters) - U.S. stocks edged lower on Wednesday, retracing recent gains along with energy shares, while comments by Federal Reserve Chair Janet Yellen pointing to a possible interest rate hike in December added to investor caution.
S&P energy , down 1.0 percent, led the day's decline as U.S. crude oil closed down 3.3 percent. The fall snapped a run of five straight days of gains in the energy index.
Stocks added to losses after comments by Yellen, who told Congress the Fed expects the economy to continue to grow at a pace that... More
