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 StockNews.com POWR Rating of C (Neutral), and is ranked #21 of 67 stocks in the Fashion & Luxury category.

CPRI at a Glance

CPRI Current POWR Rating™
Overall POWR Rating™
CPRI Current Price $44.49 0.89%
More CPRI Ratings, Data, and News

CPRI Price Reaction

The day of this event (Oct. 11, 2018)
CPRI Closing Price$61.96 0.50%
CPRI Volume2,859,400
21.94% from avg
Leading up to this event
CPRI 1-mo return15.79%
After this event
CPRI 1-day return2.11%
CPRI 3-day return2.78%
CPRI 5-day return3.40%

CPRI Price Chart


The Top Stocks For 2019

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 0.6697 seconds.