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Michael Kors Holdings (KORS) engages in the design, marketing, distribution, and retail of branded womens apparel and accessories, and mens apparel.
The company sells its products primarily under the names of Michael Kors, MICHAEL KORS, MICHAEL, MICHAEL KORS, and KORS MICHAEL KORS.
It operates in three segments: Retail, Wholesale, and Licensing. The Retail segment engages in the sale of womens apparel; accessories, which include handbags and small leather goods, such as wallets; womens footwear; and licensed products comprising watches, fragrances, and eyewear.
As of March 31, 2012, its retail segment had 191 retail stores, including concessions in North America; and 46 international retail stores comprising concessions in Europe and Japan.
The Wholesale segment sells accessories, which include handbags and small leather goods, such as wallets; footwear; and womens and mens apparel to department stores and specialty shops in North America and Europe. This segment has 2,027 department store and specialty store doors in North America; and 650 international department store and specialty store doors. The Licensing segment licenses its trademarks on products, such as fragrances, cosmetics, eyewear, leather goods, jewelry, watches, coats, footwear, mens suits, swimwear, furs, and ties, as well as licenses rights to third parties to sell the companys products in geographical regions, including Korea, the Philippines, Singapore, Malaysia, the Middle East, Turkey, China, Hong Kong, Macau, and Taiwan.
Shares have formed a bullish "cup & handle" and higher prices are expected for this price. Shares are trading lower this morning and the pullback should be used as an entry point.
52-Week Trading Range: $23.51 - $56.70
Last Trade: $53.50
Stop Loss: $50.80
Target Price: $58.85
KORS did not achieve our target price after it issused a secondary offerings. The company remains a solid investment.
