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Fly News Breaks for September 12, 2017
KORS
Sep 12, 2017 | 07:58 EDT
Bernstein analyst Jamie Merriman started Michael Kors with an Underperform rating and $37 price target as he thinks a sharper pull back in North American wholesale, which was 40% of reported sales in FY17, is needed to reposition the brand and improve pricing. Until that happens, the analyst expects sales growth to fall short of guidance and consensus expectations.
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