Kate Spade Shares Fall as Executives See Slower Sales Growth

Kate Spade reported earnings growth in its latest quarter

Kate Spade said Wednesday that weak tourism trends at its outlet stores forced the label to ramp up discounts there in the fiscal third quarter.

Kate Spade & Co. had a net margin of 7.86% and a return on equity of 28.45%.

Direct-to-consumer comparable-store sales rose 6.7% during the quarter vs. the FactSet consensus estimate for growth of 6.9%. Now shares have been suggested as BUY from 1 brokerage firms and recommended as Strong Buy by 10 brokerage firms.0 brokerage firms have issued Sell rating for the company and Strong Sell rating was issued by 0 brokerage firms.2 brokerage firms have rated the company as a Hold. That is compared with the $0.06 in earnings per share it reported during the same period previous year. (NYSE:KATE) traded up 1.164% during midday trading on Thursday, reaching $16.945. The stock volatility for week was 3.66% while for month was 2.87%.The stock, as of last close, traded 10.93% to its 52 week low and was changed -36.70% from its 52 week high. The company has a 50 day moving average price of $17.76 and a 200 day moving average price of $20.30. The Market Capitalization of the company stands at 2.09 Billion. Invictus RG acquired a new position in Kate Spade & Co. during the second quarter valued at approximately $163,000. Finally, Stoneridge Investment Partners LLC acquired a new stake in Kate Spade & Co. during the second quarter worth $222,000. The firm had revenue of $317 million for the quarter, compared to analysts' expectations of $310.94 million. The company's stock had a trading volume of 716,503 shares. The most recent short interest data show 6.72% of the company's stock are short sold.

A number of equities analysts have recently weighed in on the stock. BlackRock Investment Management LLC boosted its position in shares of Kate Spade & Co.by 3.1% in the second quarter. William Blair started coverage on Kate Spade & Co.in a research report on Tuesday, July 12th. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Finally, Credit Agricole SA started coverage on Kate Spade & Co.in a research report on Wednesday, September 28th. In the past 52 weeks, the share price moved between $15.10 and $26.46. Overweight rating was given by 2 analysts and Underweight rating was given by 0 analysts. The stock presently has a consensus rating of "Buy" and a consensus price target of $23.66. It offers briefcases, handbags, small leather goods, fashion accessories, jewelry, fragrances, and apparel for men, women, and children; and licensed products, counting footwear, swimwear, watches, children's wear, optics, tabletop products, legwear, electronics cases, furniture, bedding, and stationery.

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