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Ride on Michael Kors
One of the best performing stocks year to date is fashion house Michael Kors (KORS), which has risen 95%. But, with some of its peers reporting lackluster sales, will Michael Kors stay cheap michael kors bags in fashion?
Michael Kors went public late last year, and the stock has been a one way ticket to the moon. Rescued from bankruptcy by fashion bigwigs Silas Chou and Lawrence Stroll, cheap michael kors Michael Kors has gone cheap michael kors handbags from lowly men’s shirt wear designer to a global brand available in 74 countries. Chou, the Hong Kong fashion billionaire (whose money comes from his father), and former Ralph Lauren (RL) executive Lawrence Stroll, have an enviable track fake michael kors record. The pair helped build Tommy Hilfiger into a global sensation in the 1990s.
Michael Kors’ stock price Michael Kors handbag outlet has been pushed higher by very strong revenue growth. In fiscal 2011, the company reported revenue of $803 million, a 58% increase over fiscal 2010. Fiscal 2012 saw revenue of $1.3 billion, and the Street consensus for 2013 is $1.95 billion.
Last month the company announced plans to issue an additional 20 million shares at $53 apiece. replica michael kors Both Stoll and Chou recently celebrated their success by buying a pair of $50 million apartments in New York City’s cheap replica michael kors tallest residential building. (Now you know where the money from the secondary offering is going!) The pair controls more than 80% of Michael Kors through their Hong Kong holding company Sportswear Holdings. Michael Kors the man the company’s namesake owns just 8% of the company. Today, the outfit sports market capitalization in excess of $10 billion.
With the kind of revenue growth Michael Kors is putting up, earnings per share estimates of $1.42 for fiscal 2013 are an afterthought. Investors are clearly buying the stock on revenue momentum. But, in my opinion, it’s not entirely unreasonable to slap a 40x to 45x multiple on the stock, and that would get you somewhere in the $56 to $64 range.
While others in the luxury space are reporting weak sales, Michael Kors is showing no signs of a slowdown. We’ve cheap michael kors seen this before with fashion. When these companies are on trend, they are next to impossible to stop. Going replica cheap Michael Kors into the holidays, Michael Kors will probably be “the” fashion brand to own. Barring some unforeseen economic disaster, I think investors can ride the momentum into the cheap michael kors purses low $60s. One day this name will be out of fashion, but right now it is in. You can leave the runway.Articles Connexes：
5 Tax Benefits That Come With Marriage When it comes to taxes, is marriage a penalty or a bonus? That’s a tough one. If a married couple pays more in income tax when filing jointly than they would’ve paid as two single people, that’s called the marriage penalty. Despite legislation to eradicate the marriage penalty, there are still marriage traps lurking in cheap Michael kors handbags the tax code. Michael Kors outlet For chi hair straightener example, if both spouses work, any income over $139,350 is taxed at a 28 percent rate. If that same couple was still single, they could each earn up to $83,600 (for a total of $167,200) and still cheap michael kors store remain in the 25 percent tax bracket. That’s a pretty wide gap. But studies show that despite all of the noise about the marriage penalty, more than half of married discount michael kors sale couples actually pay less in taxes than they would if they were still single [source:Weston]. That’s called a marriage bonus. The marriage bonus is largest when one spouse makes replica cheap Michael Kors a lot more money than the other, but there are other situations cheap gucci bags like estate transfers or selling a home in which your marriage status can save you serious bucks on tax day.