Stephens analyst Rick Patel said the firm's e-commerce channel checks indicate that promotions at Kate Spade in the second quarter, excluding flash sales, have been comparable with the first quarter, signaling that sales are likely tracking on plan. Noting that the stock is down about 40% in the last three months, Patel said he sees the potential for a relief rally if Kate reports in-line results this week. The analyst maintains an Equal Weight rating and $33 price target on Kate Spade, which is scheduled to report earnings on August 5 before the market opens.