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Fly News Breaks for May 14, 2019
UA, PVH, SKX, UAA, CRI, AMZN, RL, GIII
May 14, 2019 | 09:06 EDT
Cowen analyst John Kernan said 34% of apparel and about 70% of footwear imported into the U.S. come from China, adding that 25% tariffs on apparel and footwear will create "major disruption" at a time when companies are already facing accelerating disruption from technology and Amazon (AMZN). The analyst, who thinks diversifying from China sourcing will be slow, said he views Skechers (SKX), G-III Apparel (GIII), Carter's (CRI), PVH Corp. (PVH) and Ralph Lauren (RL) as among the apparel stocks with outsized EPS risk. He added that he thinks companies like Under Armour (UAA), that may have lower than sector average exposure to China sourcing but also have lower EBIT margins, as faced with greater sensitivity to higher cost of goods.
News For SKX;GIII;CRI;PVH;RL;UAA;UA;AMZN From the Last 2 Days
GIII
Jun 18, 2019 | 14:18 EDT
G-III Apparel Group CEO Morris Goldfarb disclosed the purchase of 40,479 shares at price of $25.39 for a total value of $1,027,762. The CEO now owns over 3.2M shares of G-III Apparel. Shares of G-III are up 6% to $27.25 in afternoon trading.
AMZN
Jun 17, 2019 | 15:13 EDT
While Netflix (NFLX), Disney (DIS) and Apple (AAPL) continue investing in original animated content for kids, Amazon Studios (AMZN) is telling producers that it is no longer interested in developing new original animated shows for children but is shifting its focus to programming for young adults and that families can view together, according to The Los Angeles Times' Wendy Lee, citing four people familiar with the matter. Reference Link