Michael Kors (KORS) changes name to Capri Holdings (CPRI)

• Michael Kors completes acquisition of Versace, changes name to Capri Holdings; will begin trading under symbol CPRI on January 2.
• Michael Kors bought Versace for $2.1 billion in September 2018 as part of its action plan to become a luxury fashion conglomerate to rival Kering and LVMH. Under the Capri Holdings label – the name it chose to reflect its new portfolio approach – also sits Jimmy Choo, which Kors acquired in 2017 for $1.2 billion.

     "With the acquisition of Versace, we have now created one of the leading global fashion luxury groups in the world," Chief Executive John Idol said in a statement. "The new name for our group, Capri Holdings, is inspired by the fabled island which has long been recognized as an iconic, glamorous and luxury destination." The acquisition is expected to help grow the company's revenue to $8.0 billion in the long term and to boost Versace's revenue to $2 billion. The company is aiming to grow revenue at its Jimmy Choo brand to $1.0 billion and its core Michael Kors brand to $5 billion. Versace was purchased for a total enterprise value of 1.83 billion euros ($2.1 billion). The Michael Kors brand has struggled in recent quarters to meet sales estimates, leading the company to pull back from the wholesale channel to protect it from discounting.

Michael Kors (KORS) reported earnings Wed 27 May 2015

charts before earnings

 

charts after earnings

Sharply lower on the day are shares of Michael Kors Ltd. (KORS) after posting fiscal Q4 profits of $0.90 per share, one cent below consensus forecasts, and revenue increases +17.8% year-over-year of $1.1B, in line with estimates. The big downturn seems to be related to the Q4 same store sales results that were -5.8% year-over-year versus the +5.5% that was expected. The fashion clothing and accessory maker also issued Q1 and full year guidance that was below expectations. Equity volume was huge in just the first 2 hours of the day, with more than 35M shares changing hands compared to normal full day volume of about 3M shares. KORS shares were already about -19% YTD. Option activity is surprisingly neutral with a volume put/call ratio of 1.16 compared to an open interest put/call ratio of only .99. 8 of the 10 most active contracts were puts with by far the largest activity on 06/19/2015 45 puts, with over 13k contracts traded. This was made up primarily of 2 blocks (1k & 9k) which traded at 9:41 & 9:42 ET at the ask price of .35. These appear to be opening buys (which implies bearish activity) given the open interest was only 8 contracts previously.

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Michael Kors (KORS) : 2-year performance

Michael Kors announces pricing of its secondary Public Offering

Michael Kors Holdings (NYSE:KORS) shares are trading down as the maker of purses and accessories prepares a secondary public offering of more than 11.6 million ordinary shares by Sportswear Holdings, one of its principal founding stockholders, at $76.75 per share.

Shares of the company fell 5% to 75.96 in early trading in the stock market today, Friday.

Two board directors, Silas Chou and Lawrence Stroll, original majority shareholders of the Hong Kong-based company, will step down after the sale.

Michael Kors (KORS) reported earnings Mon 4 Aug 2014

On the surface Michael Kors Holdings posted a stunning quarter.

The luxury fashion brand reported $919.2 million in first quarter 2015 revenue Monday, up 43.4% from the same period a year ago. Net income was $187.7 million, up 50%, and earnings per share were 91 cents, 10 cents ahead of Wall Street analysts’ consensus estimate.

Need more? Same store sales grew 24.2% while the company opened 115 net new stores over the quarter and brought in a stylish $32.1 million in licensing revenue. The American brand also saw significant international growth with revenue from Europe alone gaining 128%.

Founder Michael Kors – who owns about 2.2% or 4.5 million shares of the company — became a billionaire in February when stock his namesake company soared thanks to killer third quarter 2014 result. His fortune grew as shares briefly crossed the $100 mark later that month, but since May the stock is down around 12%. On Monday morning Kors’ fortune stood around $940 million.

The company’s short term outlook seems to be the culprit of the latest decline. Kors Holdings expects revenue for the second quarter to be $950 million and $960 million with a same store sales increase in the high teens. The rub may be the company’s forecast for diluted earnings per share in the range of 85 cents to 87 cents versus the Street’s call for 89 cents.

For the full year the company anticipates revenue between $4.25 billion to $4.35 billion and earnings per share from $4 to $4.05. If realized this would be above the Streets’ current estimate of $3.96. Kors Holdings previously issued full-year earnings guidance of $3.85 to $3.91 per share on revenue of $4 billion to $4.1 billion.

New IPOs - when to buy?

Brand-new IPOs may offer future potential, but they can be tricky to navigate in the short run.

Those that go public with much fanfare often see a big, first-day pop, like LinkedIn (LNKD) (109%) and Twitter (TWTR) (73%), before coming back down to earth. That can make finding an entry tough, since a hot stock could keep shooting higher or drop right after the debut, a la Facebook (FB).

That's why it may be prudent to wait for a consolidation. Some IPOs pause shortly after their debut. A so-called IPO base can be shorter in length than the five- or six-week minimum, respectively, for a flat or cup base.

Michael Kors (KORS) trended mostly higher the first five sessions after jumping 21% its first day, Dec. 15, 2011. It then paused the next three weeks, giving prospective buyers a chance to get in. The first true base didn't start until March.

Coupons.com (COUP) surged 88% to 30 from its offer price on March 7. It hasn't done much since, trading mostly between 26 and 31. The Mountain View, Calif.-based digital coupon provider hasn't yet turned an annual profit, though it posted its first quarterly profit in Q4.

Its debut comes nearly eight months after that of rival RetailMeNot (SALE), which rose 32% from its IPO price and is now up more than 30% from that day's close. It had rallied as much as 76%. The company has made money since 2010.

YY (YY), which went public on Nov. 21, 2012, shows the potential of recent new issues. It saw a modest 8% rise in its Nasdaq debut. Shares climbed 35% in the first two weeks before launching into their first consolidation, which spanned seven weeks and offered a first chance for investors.

Another 36% advance ensued before the Chinese Internet stock settled into a six-week cup base, a second opportunity to buy. It cleared its most recent six-week consolidation on Jan. 3 and is up 42% from the buy point.

YY has grown its annual earnings per share the past two years. Earlier this month, it crushed fourth-quarter profit and sales forecasts with triple-digit gains. Analysts expect triple-digit EPS growth to continue in Q1.
The top- and bottom-line performance have helped it attract increasing institutional sponsorship. Forty-three mutual funds and hedge funds took new positions as of Dec. 31, while 23 added to their stakes. Three of the funds owning shares are rated A+.

Michael Kors (KORS) reported blowout earnings Tue 12 Feb 2013

Michael Kors Holdings Ltd.'s ($62.77, +$5.77, +10.12%) fiscal third-quarter earnings surged as the high-end retailer posted sharply higher same-store sales and added new stores. Earnings and revenue beat expectations and Michael Kors raised its fiscal-year guidance.

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The luxury lifestyle brand said earnings for the fiscal third quarter ended in December surged 129% to 64 cents a share, sailing past views for 41 cents a share. Revenue leapt 70% to $636.8 million, well above the Street's forecast for $540.3 million.

Michael Kors has consistently topped sales and earnings forecasts since its December 2011 IPO.

Michael Kors (KORS) is a buy

• earnings 12 June 2012

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Michael Kors (KORS) started trading on the NYSE on 15 Dec 2011

After pricing at $20 — higher than the expected $17-19 range — Michael Kors shares debuted with a 25 percent pop.

• KORS raised almost $1 billion on its first day of trading
• For the first half of 2011, revenues are up 60%, profit almost doubled
• With under 200 stores in North America, the company projects a potential rollout to 400.
• Internationally, the company has 37 stores in Japan and Europe and is looking for a potential of 100 in each market. You can find Kors products in over 2,000 wholesale points (Harrod's, Saks, Bergdorf)

Michael Kors with his mother Joan outside of the NYSE 

Michael Kors Holdings Limited EVP, CFO & COO Joe Parsons; Michael Kors Holdings Limited Director Lawrence Stroll; NYSE Euronext SVP David Ethridge; Michael Kors Holdings Limited Honorary Chairman & Chief Creative Officer Michael Kors; Michael Kors Holdings Limited Director Silas Chou and Michael Kors Holdings Limited Chairman & CEO John Idol ring the NYSE Opening Bell to celebrate the company’s IPO on the NYSE

Michael Kors with husband Lance Lepere outside of the NYSE 

my favorite :  KORS Michael Kors Lizzie Patent Sandal