Dana Telsey, CEO & Chief Research Officer at Telsey Advisory Group, says Tuesday's better-than-expected earnings doesn't mean that Coach has emerged from its transition period.» Read More
May 28- Michael Kors Holdings Ltd said it expects its current-quarter gross margins to be slightly lower than a year earlier due to the costs of opening new stores in Europe. The startup expenses, such as leasing costs, associated with its expansion in Europe would hurt its retail operating margins, Michael Kors said on a conference call.
May 28- Michael Kors Holdings Ltd forecast first-quarter revenue above analysts' estimates, after reporting a 59 percent jump in fourth-quarter profit due to higher demand for its handbags and watches in North America, its biggest market. Shares of the company, founded by fashion designer Michael Kors, rose about 8 percent in premarket trading.
Kate Spade CEO discusses how aspirational luxury is driving growth.
The rich plan to spend more in 2014. On their wish list: Vacations, home improvement and cars. Fashion and collectibles are not as coveted.
Citigroup analyst Oliver Chen said the accessories company's transformation could take multiple years.
*Twitter to report earnings after market close. NEW YORK, April 29- U.S. stocks rose on Tuesday, boosted by upbeat results from companies including Merck& Co and a rebound in Facebook and other high-growth shares. Merck& Co' s shares climbed 3.6 percent to $58.72, giving the S&P 500 its biggest lift, after it reported stronger-than-expected earnings.
Stocks finished higher Tuesday, with the Dow approaching a record high, as investors cheered a round of better-than-expected quarterly earnings and largely shrugged off worries over Ukraine.
NEW YORK, April 29- U.S. stocks rose on Tuesday, helped by upbeat results from companies including Merck& Co and Sprint, as well as more deal activity on the healthcare front. Merck& Co' s shares jumped 2.9 percent to $58.35, giving the S&P 500 its biggest lift, after it reported stronger-than-expected results.
April 29- Coach Inc's North American woes deepened last quarter as the upscale retailer continued to lose market share and the new line of clothes, shoes and handbags it is banking on to reverse its fortunes remained months away from hitting stores.
*Twitter to report earnings after market close. NEW YORK, April 29- U.S. stocks edged higher on Tuesday following better-than-expected earnings from Merck& Co and Sprint Corp.. The Dow Jones industrial average outperformed the broader market as component Merck& Co' s shares jumped nearly 3 percent to $58.31 after its earnings report.
Twitter to report earnings after market close. NEW YORK, April 29- U.S. stocks rose on Tuesday following better-than-expected earnings from Merck& Co and Sprint Corp.. The Dow Jones industrial average was outperforming the broader market as component Merck& Co' s shares jumped nearly 3 percent to $58.42 after its earnings report.
U.S. stock index futures pointed to a higher open, ahead of first quarter earnings from companies including Twitter and eBay.
Some of the names on the move ahead of the open.
April 29- Coach Inc reported a sharp drop in North American sales on Tuesday as the upscale leather goods maker continued to lose ground to fast-growing rivals in the competitive handbags market.
April 29- Coach Inc reported a sharp drop in North American sales on Tuesday as the upscale leather goods maker continued to lose ground to fast-growing rivals. Overall revenue fell 7.4 percent to $1.1 billion in the third quarter ended March 29.
FMHR trader Stephanie Link sees further growth opportunities internationally for Coach going forward, while Joe Terranova doesn't think there's enough global exposure to make up for the decline in the U.S.
Investors will navigate a Fed meeting, an earnings flood, and significant economic data, but traders agree global tensions will continue to dominate the market.
Citi analysts evaluated the two popular handbag labels to determine which offers more upside to investors.
As more brands flock to the off-price model, one analyst cautions that outlets could be losing a bit of their luster.
Barclays initiated coverage on the U.S. luxury sector on Monday, saying it's bullish on the category's accessible positioning.