The Buzz
Coach stock surges after earnings
April 23, 2013: 12:01 PM ETClick the chart to track shares of Coach.
Coach is back in the game! Shares of the luxury handbag maker jumped 10% Tuesday after the company blew past earnings and revenue expectations thanks to solid sales growth around the world.
Overall revenue climbed 7% during the fiscal third quarter to $1.19 billion, with sales rising 7% in North America and 6% in international markets. Sales in China were among the strongest, climbing a whopping 40%.
"We're pleased with...the progress we're making toward out transformation to a global lifestyle brand, anchored in accessories," said Coach CEO Lew Frankfort.
Shareholders were also pleased as Coach (COH) announced that it will increase its annual dividend by 13% to $1.35 a share.
As Coach shares recovered to their highest levels in January, other luxury retailers were also taking off. Shares of Michael Kors (KORS) were up almost 4%, while shares of Ralph Lauren (RL) and Vera Bradley (VRA) rose more than 2%.
Coach's strong results gave traders on StockTwits plenty to talk about.
Raskol25
$NFLX Forget $KORS...$COH is where it's happening...they were in oversold territory forever while "analysts" bashed them--now what!
Coach and Michael Kors may be in fashion, for now, but Netflix (NFLX) also is flying high as the S&P 500's best-performing stock so far this year.
Shares of Netflix were up almost 25% Tuesday, after the company handily beat earnings forecasts, a sign that its original series "House of Cards" is paying off. And Netflix, like Coach, was a stock that many analysts and investors had left for dead not that long ago.
MarketMaker
It seems like every other earnings report they miss and beat. $COH huge gaps/moves both ways
That's a good point. In January, Coach shares tumbled 16% on the day the company's quarterly sales missed forecasts due to "challenging" holiday sales. And despite Tuesday's big rally, shares are still more than 10% below their highest point of the year, and almost 30% short of its 52-week high from last May.
But for the most part, traders are optimistic that Coach's results for the latest quarter are a sign of strength for the entire luxury retail market, particularly Kors and Ralph Lauren.
ivanhoff
If Coach is doing well, Michael Kors should be killing it. Market expectations there are lot higher though $KORS
TrueChartTrader
$KORS $COH results points to strong north american growth for $KORS. expect 28 to 40% kind of same store sales increase.
retail_guru
Coach is still losing share but improvement in comp suggests healthy handbag category & overall upscale spend $COH $RL $KORS
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J.C. Penney's latest survival tactic
J.C. Penney's latest move to turn itself around involves tapping its own credit line.
Early Monday, the retailer announced it drew $850 million from its $1.85 billion credit facility to help replenish its inventory and for other working capital.
The latest move comes after J.C. Penney (JCP) replaced CEO Ron Johnson with his predecessor, Mike Ullman, and tapped the Blackstone Group (BX) to help it raise money.
Related: J.C. Penney fighting for MORE
Catherine Tymkiw - Apr 15, 2013 1:08 PM ETPosted in: Blackstone, cnnmoney, consumer, credit, JCPenney, Macy's, retail, stock, StockTwits, turnaround -
A bumpy ride for Bed Bath & Beyond
Bed Bath & Beyond got a boost Thursday after the home goods retailer reported stronger-than-expected revenue.
While earnings were in line with forecasts, investors cheered the sales figures. Net sales rose nearly 25%, while same store sales -- a key metric of consumer spending -- nudged up 2.5%
Shares of Bed Bath & Beyond (BBBY) rallied more than 4% Thursday before pulling back.
Some of the retreat could be due to MORE
Catherine Tymkiw - Apr 11, 2013 2:32 PM ETPosted in: bed bath & beyond, bedbathandbeyond, cnnmoney, consumer, investors, retail, stock, StockTwits -
J.C. Penney surges as stocks slump. Huh?
The market slid Friday after a terrible jobs report. Retail stocks were not spared. The SPDR S&P Retail exchange-traded fund (XRT) was down nearly 1%.
It makes sense. If the job market is going into another spring swoon, then consumers probably will spend less at the mall. So why on Earth were shares of J.C. Penney (JCP) up 4%?
J.C. Penney's problems are well-known at this point. The department store chain's sales MORE
Paul R. La Monica - Apr 5, 2013 1:10 PM ET -
Best Buy banking on Samsung stores
Troubled electronics retailer Best Buy said Thursday that it has teamed up with Samsung to create boutique shops in more than 1,400 U.S. stores.
Best Buy founder Richard Schulze, who owns 20% of the retailer's shares, had been trying to buy the company for months. But a March 1 deadline came and went without a final offer.
Best Buy CEO Hubert Joly has been cutting staff and closing stores to try to MORE
Catherine Tymkiw - Apr 4, 2013 1:08 PM ET -
Dollar General rally fizzles
Investors went shopping at the dollar store early Monday...but the buying spree didn't last too long.
Shares of Dollar General (DG) spiked nearly 6% after the retailer reported earnings that topped forecasts, despite missing revenue estimates.
Investors were heartened by Dollar General's top line earnings numbers and its plan to buy back stock.
But shares pulled back as concern about the company's guidance gave investors pause.
"The volatility of the macroeconomic environment continues to MORE
Catherine Tymkiw - Mar 25, 2013 12:15 PM ET -
Tiffany not feeling blue: Stock up 20% this year
Tiffany might want to change the color of its trademark blue box to green. Shares of Tiffany (TIF) rose nearly 2% Friday after the luxury retailer reported earnings that topped forecasts.
The stock is now up more than 20% year-to-date, surging even as shares of other luxury brands such as Coach (COH) and Nordstrom (JWN) have fallen this year.
Tiffany's stock is also outperforming lower-end jewelry chains Signet (SIG) -- of "He MORE
Paul R. La Monica - Mar 22, 2013 11:34 AM ET -
J.C. Penney's friend list grows by one
J.C. Penney has few friends on Wall Street, but Thursday, the troubled retailer gained one more.
BTIG analyst William Frohnhoefer issued a "buy" rating, making him one of the few analysts to recommend purchasing J.C. Penney's stock.
Frohnhoefer also set a price target of $22 per share. That's more than 40% higher from where J.C. Penney's (JCP) stock is currently trading. Early Thursday, shares slid 1% to $15.53.
The call is a rare MORE
Ben Rooney - Mar 14, 2013 11:44 AM ET -
Why is Best Buy up 60% this year?
The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any individual stocks.
Best Buy is expected to report a nearly 20% decrease in earnings per share this fiscal year. Sales should drop too. And a takeover by the company's founder now appears to be off the table.
Yet MORE
Paul R. La Monica - Mar 7, 2013 10:50 AM ET -
American Apparel back in fashion
Shares of American Apparel (APP) took off Tuesday, after the retailer reported strong earnings and sales.
American Apparel's stock rallied more than 16%, although it's trading well below $2.
Still, the retailer has had a string of wins lately. In addition to reporting a solid quarter, American Apparel said sales would range between $652 million and $660 million for the year.
Just last month, same-store sales bumped up 10%.
"We have set a three MORE
Catherine Tymkiw - Mar 5, 2013 12:35 PM ET
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