{"id":27250,"date":"2014-07-16T08:08:45","date_gmt":"2014-07-16T12:08:45","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=27250"},"modified":"2014-07-16T08:08:45","modified_gmt":"2014-07-16T12:08:45","slug":"michael-kors-holdings-ltd-nysekors-sinks-on-bearish-notes","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/michael-kors-holdings-ltd-nysekors-sinks-on-bearish-notes-27250","title":{"rendered":"Michael Kors Holdings Ltd (NYSE:KORS) Sinks On Bearish Notes"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 07\/16\/2014 (wallstreetpr) \u2013\u00a0Shares of <b>Michael Kors Holdings Ltd (NYSE:KORS)<\/b>, an accessories and footwear maker, fell nearly 7.3 percent on Tuesday as analysts weighed in on the stock with bearish notes. The cautious commentaries saw the analysts question the heavy discounts on company\u2019s products as well as its declining Web popularity as measured by <b>Google Inc (NASDAQ:GOOG) <\/b>searches.<\/p>\n<p style=\"text-align: justify;\"><b>Brands lack newness<\/b><\/p>\n<p style=\"text-align: justify;\"><strong>Citigroup Inc (NYSE:C)<\/strong>\u2019s analyst Oliver Chen chopped his price target on the stock of Michael Kors Holdings Ltd (NYSE:KORS) to $98 per share from $107. The analysts observed that a survey of some 62 stores revealed that some retailers felt that the products of Michael Kors lacked newness.<\/p>\n<p style=\"text-align: justify;\">The analyst also reported that in a survey, 17 percent of the respondents said the company\u2019s products did not meet sales targets. That compared with only one percent of the respondents who held the same view in the January-March period.<\/p>\n<p style=\"text-align: justify;\">In his report, Chen also observed that more stores were placing hefty discounts in the range of 30-50 percent on the products of Michael Kors Holdings Ltd (NYSE:KORS). The analyst expects the stock to be range-bound, at least, in the near-term. Chen rates the stock Neutral.<\/p>\n<p style=\"text-align: justify;\"><b>Sales and Web popularity correlate<\/b><\/p>\n<p style=\"text-align: justify;\">Michael Kors Holdings Ltd (NYSE:KORS) earned another cautious note from Barclays\u2019 Joan Payson. He reported in his noted that in at least five weeks beginning June 7, Google searches on Michael Kors dropped in number compared to the levels noted a year ago.<\/p>\n<p style=\"text-align: justify;\">The analysts went on to stated that for the past three years, there has been a high correlation between Michael Kors Holdings Ltd (NYSE:KORS)\u2019s North American retail sales and Google searches. Payson rated the stock Underweight and kept the price target at $82.<\/p>\n<p style=\"text-align: justify;\">Maxim\u2019s Rick Snyder was another source of bad news as he chopped the price target on the stock from $109 to $85. He also downgraded the stock to Hold from Buy. He noted weakening domestic sales in the company.<\/p>\n<p style=\"text-align: justify;\">Michael Kors Holdings Ltd (NYSE:KORS) competes for the market share with <strong>Coach Inc (NYSE:COH)<\/strong> and <strong>Kate Spade &amp; Co (NYSE:KATE).<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 07\/16\/2014 (wallstreetpr) \u2013\u00a0Shares of Michael Kors Holdings Ltd (NYSE:KORS), an accessories and footwear maker, fell nearly 7.3 percent on Tuesday as analysts weighed [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":27251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[1631,3615,1614,7647,3676,712,1008,3616,7648,656],"stock_ticker":[],"class_list":["post-27250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-citigroup-inc-nysec","tag-coach-inc-nysecoh","tag-google-inc-nasdaqgoog","tag-kate-spade-co-nysekate","tag-michael-kors-holdings-ltd-nysekors","tag-nasdaqgoog","tag-nysec","tag-nysecoh","tag-nysekate","tag-nysekors","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Michael Kors Holdings Ltd (NYSE:KORS) Sinks On Bearish Notes - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/michael-kors-holdings-ltd-nysekors-sinks-on-bearish-notes-27250\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Michael Kors Holdings Ltd (NYSE:KORS) Sinks On Bearish Notes - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"Boston, MA 07\/16\/2014 (wallstreetpr) \u2013\u00a0Shares of Michael Kors Holdings Ltd (NYSE:KORS), an accessories and footwear maker, fell nearly 7.3 percent on Tuesday as analysts weighed [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cablemanpro.com\/wallstreetpr\/michael-kors-holdings-ltd-nysekors-sinks-on-bearish-notes-27250\" \/>\n<meta property=\"og:site_name\" content=\"Wall Street PR\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WallStreetPR\/\" \/>\n<meta property=\"article:published_time\" content=\"2014-07-16T12:08:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2014\/07\/Michael-Kors-Holdings-Ltd.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"275\" \/>\n\t<meta property=\"og:image:height\" content=\"183\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Hackney\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Hackney\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/michael-kors-holdings-ltd-nysekors-sinks-on-bearish-notes-27250#article\",\"isPartOf\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/michael-kors-holdings-ltd-nysekors-sinks-on-bearish-notes-27250\"},\"author\":{\"name\":\"Steve Hackney\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/3ce02e36ec0c7fc865d70f316a025867\"},\"headline\":\"Michael Kors Holdings Ltd (NYSE:KORS) Sinks On Bearish Notes\",\"datePublished\":\"2014-07-16T12:08:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/michael-kors-holdings-ltd-nysekors-sinks-on-bearish-notes-27250\"},\"wordCount\":361,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#organization\"},\"image\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/michael-kors-holdings-ltd-nysekors-sinks-on-bearish-notes-27250#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2014\/07\/Michael-Kors-Holdings-Ltd.jpg\",\"keywords\":[\"Citigroup Inc.(NYSE:C)\",\"Coach Inc. 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