Published: Fri, April 21, 2017
Economy | By Annette Adams

Kate Spade & Company Posted losses of -0.61% in the Last Trade

Kate Spade & Co. shares slid 2% in Tuesday premarket trading after the accessories company reported first-quarter 2017 earnings that missed expectations. Same-store sales per square foot for Kate Spade New York stores were $1,516 for the latest twelve months, compared to $1,557 for the twelve month period ended December 31, 2016. The day began at US$18.43 but the price moved to US$17.99 at one point during the trading and finally capitulating to a session high of US$18.645.

12/28/2016 - Kate Spade had its " rating reiterated by analysts at Mizuho.

In addition to Zacks Investment Research reporting its stock price target, a total of 16 brokers have issued a research note on the company. It also failed to reach analysts' revenue estimate of $299.75 million for the quarter.

The stock volatility for week was 2.56% while for month was 2.54%.The stock, as of last close, traded 28.74% to its 52 week low and was changed -31.78% from its 52 week high.

11/23/2016 - Kate Spade was downgraded to " by analysts at Wolfe Research. The company presently has an average rating of Hold and an average price target of $22.73. During the same period in the previous year, the business earned $0.32 EPS. Higher EPS forecast that can be expected in this Fiscal Year is noted at $0.95 and a lower EPS estimate is calculated at $0.8. Kate Spade & Co had a net margin of 9.67% and a return on equity of 27.34%.

For the first quarter of 2017 on a GAAP basis, the Company recorded income from continuing operations of $1 million, or $0.01 per diluted share, including $7 million of pretax store impairment charges and $2 million of pretax fees and expenses related to the Company's ongoing review of strategic alternatives.

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A number of large investors have recently bought and sold shares of the stock. The FactSet consensus was for a 3.4% increase. Envestnet Asset Management Inc. raised its stake in shares of Kate Spade & Co by 126.2% in the fourth quarter.

According to the the latest analyst ratings which have been released, 3 brokers have issued a rating of "buy", 3 brokers "outperform", 12 brokers "hold", 0 brokers "underperform" and 0 brokers "sell". LS Investment Advisors LLC now owns 8,314 shares of the textile maker's stock valued at $142,000 after buying an additional 439 shares during the last quarter. The company's institutional ownership is monitored at 0 percent.

Kate Spade North America sales were down 0.6% during the quarter, while the worldwide business was flat.

Despite declines, Kate Spade has attracted interest from at least six potential bidders in recent months, after activist firm Caerus Investors in November penned a letter to the company urging it to consider a sale.

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