Fashion Plays Like Michael Kors Holdings Ltd (KORS) Lower Following Disappointing LVMH Results

NYSE: CPRI | Capri Holdings Limited Ordinary Shares News, Ratings, and Charts

CPRI – Slowing demand in China is part of what’s weighing down luxury stocks.

Michael Kors Holdings Ltd (NYSE:KORS) and other luxury retailers took a beating along with the rest of the market on Wednesday. Issues involving China and a slowdown in that market are being pointed to as catalysts.  

Investor’s Business Daily explains.

Amid concerns of slowing demand from Chinese consumers and a government crackdown in China on luxury goods, shares of several luxury retail stocks are getting slammed Wednesday, including LVMH (LVMUY), Tiffany (TIF), Michael Kors (KORS) and Tapestry (TPR).

LVMH — parent of Louis Vuitton, Christian Dior, Sephora and other brands — lost 9.1% after disclosing a deceleration in revenue growth late Tuesday. (The stock trades on the Euronext Paris under the ticker LVMH and on U.S. over-the-counter markets as LVMUY.) Organic sales rose 10% during LVMH’s third quarter, down from 11% and 13% in the previous quarters, according to the Wall Street Journal.

While problems related to China could certainly be part of the problem for Kors and others, the bigger picture of the broad market selloff is also a large reason why share prices were hit so dramatically on Wednesday.

Michael Kors Holdings Ltd shares were unchanged in premarket trading Thursday. Year-to-date, KORS has declined -1.08%, versus a 5.65% rise in the benchmark S&P 500 index during the same period.

KORS currently has a POWR Rating of C (Neutral), and is ranked #21 of 67 stocks in the Fashion & Luxury category.

9 "Must Own" Growth Stocks For 2019

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from!

Top Stories on

NASDAQ: IOVA | Iovance Biotherapeutics, Inc. News, Ratings, and Charts

8 Extreme Value Stocks

POWR Rating of A + 44-99% upside potential = 8 extreme value stocks to explore today.
: APRN | Blue Apron Holdings, Inc. Class A Common Stock News, Ratings, and Charts

What caused Blue Apron Holdings (APRN) stock to tank today?

Shares of Blue Apron sank amid announcement of reverse stock split
: CGC | Canopy Growth Corporation Common Stock News, Ratings, and Charts

Canopy Growth (CGC) reminds shareholders to vote in favor of a potential acquisition

Canopy Growth encourages shareholders to vote before the deadline Monday at 10:00 am
NYSE: SLB | Schlumberger N.V. Common Stock News, Ratings, and Charts

After recent weakness, is oil services company Schlumberger (SLB) a Buy?

Schlumberger's deep pullback could be a good opportunity for value investors
NYSE: DIS | Walt Disney Company (The) Common Stock News, Ratings, and Charts

Disney (DIS) is on track to set a box office record this year, is their stock a Buy?

Disney could earn more than $9 billion at the global box office

Read More Stories

More Capri Holdings Limited Ordinary Shares (CPRI) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All CPRI News
Page generated in 1.3007 seconds.