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Fly News Breaks for August 8, 2016
KORS
Aug 8, 2016 | 07:46 EDT
Canaccord noted Michael Kors' international business has been a strong contributor to overall growth, but the business is now facing challenges across geographies that are not showing signs of moderating. The firm said they remain cautious on the shares heading into the company's Q1 report on Wednesday, as they are projecting a 5% comp decline, tourism headwinds, high promotions, and deteriorating consumer sentiment. Canaccord maintained its Hold rating and $45 price target on Michael Kors shares.
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