Why Michael Kors Soared Today
Michael Kors rocketed out of the gate today on impressive earnings. Shares closed up 17% on reports of a 71% surge in revenue. The company had one of the best IPOs over the past year, with incredible staying power. Not all that glitters is gold, though. Kors plans to push globally into the Europe and Japan markets, which may not be the best move at this time. The company is also priced to perfection at the moment, and Austin believes any hiccup could send shares sharply lower. Overall, a great company, but Coach is more appealing to him as an investment
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The article Why Michael Kors Soared Today originally appeared on Fool.com.Austin Smith and Brendan Byrnes have no positions in the stocks mentioned above. The Motley Fool owns shares of Coach, lululemon athletica, and Under Armour. Motley Fool newsletter services recommend Coach, lululemon athletica, and Under Armour. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.