Michael Kors handbags cyber monday 2013 Accessories Trendy Among Teens
Michael Kors Holdings Upgraded to “Overweight” at Piper Jaffray Cos. (KORS)
Piper Jaffray found in its latest Taking Stock With Teens survey a "staggering" jump in "mindshare" for the former "Project Runway" judge's accessories. It also found Kors handbags were the second most preferred among both average- and upper-income consumers, taking a 21% share in both brackets. As a result, Piper Jaffray analyst Erinn Murphy upgraded Kors to overweight from neutral and the price target to $90 from $73. She thinks Europe will be the next "catalyst" that could help drive earnings to near $6 a share going forward. Analysts expect $2.76 a share for fiscal 2014. Kors shares were up 1% in early-afternoon trading on the stock market today . Kors has soared 260% since its stock debuted at $20 a share in December 2011.
Michael Kors dishes details of new spring line
I kept thinking. We live such fast lives we ought to many devices. We go out to dinner and people have phones and blackberries on the table some people he had an iPad and I thought -- -- we bring romance back into urban life. And it's you know how do you how do you feel sexy and feminine without wearing something -- tonight though. It was really all about you know what catches the breeze when the weather gets warm. To you know we were designing it at my house and at the beach and we have quite that -- curtains that blow in the -- And I thought how do we do that and bring it into the city you know yin and Yang it's very Michael -- -- -- close but rugged -- and you know there's always that I think women have lots of different sides of their personality and we you know wanted to express that. Site Here To be breezy story.
Murphy noted a staggering move higher in mindshare for Michael Kors across handbags, watches and now jewelry. The survey showed the company wasthe No. 2 preferred handbag among both upper- and average-income consumers, garnering a 21 percent share within both of these income segments. Murphy believes Europe will be thenext catalyst in the model which will likely support a pathway approaching $6/share inearnings over time. Michael Kors Holdings ( NASDAQ:KORS ) traded up 1.66% on Tuesday, hitting $72.10. 2,121,626 shares of the companys stock traded hands. Michael Kors Holdings has a one year low of $46.66 and a one year high of $78.62.
Michael Kors Holdings Ltd. Message Board
A rise in the upper-middle and ultra-rich classes in emerging economies such as China, India and Brazil has also encouraged luxury goods retailers to open stores in foreign territories and tailor their marketing strategies towards consumers from different social backgrounds. Both Coach (COH) and Michael Kors have ramped up their international supply chain to gear up for a surge in foreign demand following an exponential increase in the sales of luxury items in the countries mentioned. Furthermore, rising numbers of Asian and Middle Eastern tourists in western countries have done wonders for the demand for luxury goods. Because luxury goods are taxed heavily in mainland China, Chinese tourists in particular are big spenders during vacation trips to Europe and the US. It is estimated that nearly 100 million Chinese tourists will travel to major cities like Paris, London and New York every year by 2020 and spend their wealth on premium products, up from around 40 million in 2012. Investors have been quick to catch on: luxury goods retailers are attractive investments nowadays, given their healthy sales growth rates and higher operating margins, which average close to 20%, compared to the single-digit operating margins for major retailers.
Michael Kors Loves Diversity On The Runway And We'd Like To See More
And let's not even mention his super homogenous (aka white) ad campaigns . But we have high hopes that Kors will start practicing what he preaches. Especially since the former "Project Runway" judge revealed to Vogue UK that he's a fan of one of our favorite black models. "There's a girl called Malaika Firth who I think is gorgeous - she's just amazing." Agreed. Firth is the African-born stunner who stole our hearts after becoming Prada's first black campaign model since 1994. So, could there be a Kors campaign in her future?