Long Position on KORS @ $97.50 on 3/18/2014 (Momentum)

Michael Kors Holdings Limited (KORS) engages in the design, marketing, distribution, and retailing of branded women’s apparel and accessories, and men’s apparel.

The company operates in three segments: Retail, Wholesale, and Licensing.

The Retail segment is involved in the sale of women’s apparel; accessories, which include handbags and small leather goods, such as wallets; footwear; and licensed products comprising watches, fragrances, and eyewear.

As of March 30, 2013, it had 231 retail stores, including concessions in North America; and 73 international retail stores, including concessions in Europe and Japan.

The Wholesale segment sells accessories, which include handbags and small leather goods, footwear, and women’s and men’s apparel to department stores and specialty shops in North America and Europe. The Licensing segment licenses its trademarks on products, such as fragrances, cosmetics, eyewear, leather goods, jewelry, watches, coats, footwear, men’s suits, swimwear, furs, and ties, as well as licenses rights to third parties to sell the company’s products in geographical regions, including Korea, the Philippines, Singapore, Malaysia, Indonesia, Australia, the Middle East, Russia, Turkey, China, Hong Kong, Macau Taiwan, Latin America and the Caribbean, and India.

The company sells its products under the names of MICHAEL KORS, MICHAEL MICHAEL KORS, KORS MICHAEL KORS, and various other related trademarks and logos.

Shares have formed a bullish "cup and handle" and we expect higher share prices for this stock. Note that this morning, Barclays began coverage of this stock with "underweight" rating. This should allow us a better entry point!

52-Week Trading Range: $51.63 - $101.04

Entry Point: $97.50

Stop Loss: $92.62

Target Price: $107.25

Updates

3/27/2014 9:40:14 AM

KORS fell below its stop loss. Closed at $91.00

Position closed on 3/27/2014 at price of $91.00 with a -6.67% loss in 9 days.

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