Michael Kors announces store closures as sales dip

Gotham Asset Limited Com owns 196,386 shares. Oz Management Limited Partnership stated it has 66,309 shares or 0.02% of all its holdings.

Michael Kors Holdings Ltd. has not yet disclosed which locations will be closed and when, the Los Angeles Times reported. Virtus Investment Advisers Inc accumulated 4,979 shares.

Several brokerages have recently issued reports on KORS. Traders acquired 16,102 put options on the company.

Michael Kors Holdings (NYSE:KORS) last posted its quarterly earnings data on Wednesday, May 31st. The original version of this article can be accessed at https://www.themarketsdaily.com/2017/06/01/fdo-partners-llc-acquires-20420-shares-of-michael-kors-holdings-ltd-kors.html.

Principal Finance invested in 279,658 shares. Cadence Cap Mngmt Ltd Liability invested in 0.11% or 37,612 shares. 6,813 were accumulated by Janney Montgomery Scott Limited Liability Company.

Since December 5, 2016, it had 0 insider purchases, and 2 sales for $6.53 million activity. Parsons Joseph B. had sold 130,000 shares worth $6.28M on Tuesday, December 6.

Analysts at Piper Jaffray now has a $34.0000 target price on Michael Kors (NYSE:KORS). That's about 20% of its full-price stores, according to Baird analyst Mark Altschwager. The rating has been revealed to investors in a report on 30 May. Eight analysts surveyed by Zacks expected $1.05 billion. Therefore 13% are positive.

Michael Kors Holdings Limited (KORS) belongs to the "Consumer Goods" sector with an industry focus on "Textile - Apparel Clothing", with Mr. John D. Idol as Chairman and Chief Exec. Officer.

Stock is now moving with a negative distance from the 200 day simple moving average of approximately -23.15%, and has a poor year to date (YTD) performance of -22.8% which means the stock is constantly subtracting to its value from the previous fiscal year end price. Wolfe Research initiated the shares of KORS in report on Tuesday, August 18 with "Peer Perform" rating. On Wednesday, November 11 the stock rating was maintained by FBR Capital with "Mkt Perform". Sandy Spring Bank increased its position in Michael Kors Holdings by 23.5% in the first quarter. The company was maintained on Tuesday, February 7 by Mizuho. Twin Capital Management Inc. now owns 42,320 shares of the lifestyle brand's stock valued at $1,613,000 after buying an additional 320 shares in the last quarter. The firm has "Overweight" rating by Piper Jaffray given on Wednesday, April 27. Blackrock stated it has 379,291 shares or 0.02% of all its holdings. Piper Jaffray upgraded the stock to "Neutral" rating in Tuesday, January 19 report. About 631 shares traded.

While looking at the Stock's Performance, Michael Kors Holdings Limited now shows a Weekly Performance of -10.25%, where Monthly Performance is -9.64%, Quarterly performance is -10.08%, 6 Months performance is -30.92% and yearly performance percentage is -22.33%. It has underperformed by 27.24% the S&P500.

Michael Kors Holdings Ltd (NYSE:KORS) updated its FY18 earnings guidance on Wednesday.

The group posted a pre-tax loss of $26.8m compared to a profit of $177m in the comparable period previous year, while sales dropped from $1.2bn to $1.06bn.

Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women's apparel and accessories and men's apparel bearing the Michael Kors tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The company just delivered a disappointing forecast for its current fiscal year and announced that it would be a "rebuilding year". The Firm operates through three divisions: retail, wholesale and licensing.

Another critical number in evaluating a stock is P/E or Price to Earnings ratio. The Retail activities consist of collection stores and lifestyle stores, including concessions and outlet stores, located primarily in the Americas, Europe and Asia, as well as e-commerce.


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