CPRI
Capri Holdings Ltd
Consumer
11/14/2014
Presented
| Date | 11/07/2014 |
| Price | $69.95 |
| Market Cap | $14.40B |
| Ent Value | $13.38B |
| P/E Ratio | 17.34x |
| Book Value | $10.96 |
| Div Yield | N/A |
| Shares O/S | 205.76M |
| Ave Daily Vol | 3,770,000 |
| Short Int | 4.77% |
Current
| Price | $43.04 |
| Market Cap | $5.07B |
| Michael Kors Holdings Limited is engaged in the design, marketing, distribution, and retailing of branded women’s apparel and accessories, and men’s apparel. The company operates in three segments: Retail, Wholesale, and Licensing. The Retail segment is involved in the sale of women’s apparel; accessories, which include handbags and small leather goods, such as wallets; footwear; and licensed products comprising watches, fragrances, and eyewear. This segment operates 176 company-owned retail stores and 176 locations operated through its licensing partners. The Wholesale segment sells accessories, which include handbags and small leather goods, footwear, and women’s and men’s apparel to department stores and specialty shops in North America and Europe. The Licensing segment licenses its trademarks on products, such as fragrances, cosmetics, eyewear, leather goods, jewelry, watches, coats, men’s suits, swimwear, furs, and ties, as well as licenses rights to third parties to sell the company’s products in geographical regions, such as Korea, the Philippines, Singapore, Malaysia, Indonesia, Australia, the Middle East, Russia, Turkey, China, Hong Kong, Macau Taiwan, Latin America and the Caribbean, and India. The company sells its products under the names of MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. Michael Kors Holdings Limited was founded in 1981 and is based in Tsim Sha Tsui, Hong Kong. |
Please note, on 1/2/19 Michael Kors Holdings Limited (KORS) changed its company name and ticker to Capri Holding Ltd (CPRI). The content of this idea will make reference to the original company name and ticker symbol.
Publicly traded companies mentioned herein: Coach Inc (COH), Fossil Group Inc (FOSL), Kate Spade & Co (KATE), Macy’s Inc (M), Michael Kors Holdings Limited (KORS), Ralph Lauren Corp (RL)
Highlights
The presenter is short shares of Michael Kors Holdings (KORS) in the low $70s, and thinks the risk/reward for bears remains favorable following the recent sell off and relatively poor fiscal second quarter results. “Things have been unraveling, and it’s time to press it [the short],” said the presenter. KORS has oversaturated its distribution channels, and the brand appears to have suffered as a result of an overly aggressive sales strategy.
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