As more brands flock to the off-price model, one analyst cautions that outlets could be losing a bit of their luster.» Read More
Coach stock is getting slammed after a 13.6 percent drop in Q4 same store sales. CNBC's Courtney Reagan reports.
Jan 22- Coach Inc's sales in North America during the key holiday quarter fell more than the handbag maker had forecast as new rivals continued to eat away at its market lead and fewer shoppers came into its stores.
*IBM, Coach fall in premarket after earnings. *IBM shares lost 3.9 percent to $181.10 before the opening bell. *Coach Inc tumbled 7.6 percent to $48.55 in premarket trading after it said sales in North America fell further in the final quarter of 2013, as it lost share in the handbag business to fast-growing rivals such as Michael Kors Holdings Ltd and Kate Spade.
*IBM, Coach fall in premarket after earnings. *IBM shares lost 3.6 percent to $181.75 before the opening bell after the world's biggest technology services company missed revenue expectations for a fourth straight quarter amid weakening demand, particularly in growth markets like China.
Some of the names on the move ahead of the open.
Jan 22- Coach Inc said sales in North America fell further in the final quarter of 2013, as it loses share in the handbag business to fast-growing rivals such as Michael Kors Holdings Ltd and kate spade.
U.S. stock index futures pointed to a flat open on Wall Street on Wednesday, ahead of another busy day for quarterly earnings.
Jan 22- Coach Inc said comparable sales in North America fell 13.6 percent in the final quarter of 2013, the latest sign it is losing share in the handbag market to fast-growing rivals such as Michael Kors Holdings Ltd and kate spade. Overall revenue fell 5.6 percent to $1.42 billion in the second quarter ended Dec. 28.
With uncertainty rampant in the market, pros will be watching earnings very closely. Which results matter most to Cramer?
Dec 31- Revlon Inc said it would exit China, where sales of its cosmetics have been falling, and cut more than 1,000 jobs as part of a restructuring designed to save about $11 million a year. Revlon, owner of the Almay cosmetics brand and Sinful Colors nail polish, said in a filing that its Chinese operations accounted for about 2 percent of total net sales.
With the explosion of Internet shopping this holiday season, retailers need to stop thinking about consumers buying either online or in the stores, experts say.
Experts have begun to see the return of the aspirational shopper, but she doesn't spend as freely as she did before the recession.
It's Kors vs. Coach. Which is the better investment now, with Sapna Maheshwari, Buzzfeed; Stacey Widlitz, CNBC retail analyst; and Jan Kniffen, CNBC retail analyst.
CNBC's Courtney Reagan says the Coach brand is a luxury legend, but Michael Kors is rapidly expanding its current footprint.
*Deal leaves Fifth& Pacific with kate spade brand. Dec 10- Fifth& Pacific Cos Inc said it would sell its Lucky Brand Jeans business to private equity firm Leonard Green& Partners LP for $225 million as it focuses on its fast-growing, higher-end kate spade brand.
Expanding into China would represent a "gigantic game-changer" for one social media site, CNBC's Jim Cramer says.
Black Friday retail sales may have been more sizzle than steak. Traffic was up, but spending was down.
Some of Friday's midday movers.
High-end retailers are doing well, but low-end stores are cautious and very promotional.
Doing well by doing good is an elusive goal, but George Schwartz seems to have figured out how to do well by not doing things he believes are bad.