This is a syndicated repost courtesy of Money Morning – We Make Investing Profitable. To view original, click here. Reposted with permission.
Shareholders of Michael Kors Holdings Ltd. (NYSE: KORS) scored a windfall gain on Aug. 8 after the firm released its fiscal Q1 earnings numbers. They blew away estimates, and Michael Kors stock jumped 21%.
If you are one of the loyal shareholders who rode this stock down from $59 in March 2016 to the recent low near $32, we suggest you take this gift. Sell these shares and move your money into something that is not going to be squashed in what Money Morning Capital Wave Strategist Shah Gilani calls the ‘Retail Ice Age.’
The company must see the writing on the ‘ice wall’ too, as the high-end footwear and apparel maker recently acquired luxury shoe retailer Jimmy Choo for $1.17 billion.
Some Wall Street analysts are pumping this up as a good move for the company. However, Gilani vehemently disagrees and expects the stock to resume its fall.
This post was published at Wall Street Examiner by Money Morning Staff Reports ‘ August 11, 2017.