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  • Squawk / 33 minutes ago
    Head of Macro Strategy / Saxo Bank
    Denmark
    Michael Kors reports Q4'15 EPS of $0.90 vs. $0.91 expected:

    Michael Kors, the luxury lifestyle brand valued at $12.2 billion, has just released its Q4'15 report, which includes a minor miss on EPS ($0.90 vs. $0.91 expected). Earnings per share of $0.90 includes a $-0.06 FX effect. Revenue hit $1.08 billion in Q4 vs. $1.09bn expected, which implies q4/q4 growth of 17.8%.

    KORS guides Q1 EPS of $0.74-0.78 and revenue of $930-950 million, which would imply q1/q1 growth of 2.5% and -2.6% respectively. Both estimates are well below those of The Street.

    The company announces share buybacks totaling $500 million.

    Link: https://www.tradingfloor.com/posts/saxostrats-long-michael-kors-4920545
    Read the Squawk
    7m
    Mads Koefoed Mads Koefoed
    KORS is down 10% in pre-market.
  • Calendar event / 45 minutes ago
    Low Market Composite Index
    399.9
    Low Market Composite Index Cur Chg
    -1.6%
    Low Purchase Index (S.A.)
    201.5
    Low Purchase Index (S.A.) Cur Chg
    +1.2%
    Low Refinance Index
    1537.8
    Low Refinance Index Cur Chg
    -3.9%
  • Editor’s Picks / 2 hours ago

    Luxury brands not what they used to be

    Bloomberg
    The emperor may still have some clothes, but recent data from the luxury brands sector imply that his closet is sparser than it once was. A new report from Bloomberg shows that Louis Vuitton and Chanel were the only big luxury brands to increase in value last year as slowdowns in Russia and China curtailed high-end spending in those key markets. Research firm Millward Brown's newest survey shows that the world's top 10 luxury brands lost 6% of their total value in the wake of slowdowns in the two aforementioned markets. The study also shows that second-tier brands such as Michael Kors appear to be on the rise as consumers re-tailor their purchases to reflect economic concerns.
    Read article on Bloomberg
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  • Trade view / 2 hours ago
    Strategic trade

    #SaxoStrats: Long Credit Agricole, short ING

    Head of Macro Strategy / Saxo Bank
    Denmark
    ING has outperformed Credit Agricole recently and is viewed more favourably by analysts. The spread, however, between these two equities has widened too much in our view, so we look to capture any mean reversion by buying Credit Agricole and selling short ING.
    Read the Trade View