ï»?!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//FR" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> Michael Kors Outlet On the netRetailer On-line

Costco Sued Over 'misleading' Ad For $99 Michael Kors Handbags Because It Is 'not An Authorized Retailer And Doesn't Sell Them In Store'

Michael Kors Sues Costco Over Ads

I'm NOT the runaway bride: Monaco's Princess Charlene finally breaks her silence to brand rumours she tried to flee before wedding 'categorical lies' The point of Costco's ads is to 'lure unsuspecting consumers away from bona fide Michael Kors retailers and into Costco stores,' the complaint noted. 'When a consumer "takes the bait" and seeks to purchase Michael Kors handbags at a Costco store or on Costco's website, no such handbags are available.' Bargain basement: Costco does stock designer handbags from brands including Prada and Ralph Lauren Mr Kors, 53, who has sold off much of his company, also reportedly sent representatives into 19 different Costco branches and asked them to search the website, but was unable to find proof that his bags were on sale. Full-price designs usually range from $298 to $1,195. Michael Kors is seeking a court order to stop Costco from advertising its products, and to recoup profits plus punitive damages stemming from the alleged false ads. Arm candy: Full-price Michael Kors designs usually range from $298 to $1,195 A spokesman for Costco, based in Issaquah, Washington, was not immediately available for comment. The lawsuit resembles one that Tiffany & Co brought against Costco in February.

Michael Kors Holdings Upgraded to “Overweight�at Piper Jaffray Cos. (KORS)

At today's share price, this stake would be worth around $466 million. The company, which reported third-quarter results that comfortably beat Wall Street estimates, said the addition of new stores and the conversion of department store premises into branded "shop-in-shops" had drawn in more customers. A shop-in-shop is a mini-store within a larger department store that houses similar products. In total, there were 388 Michael Kors stores worldwide at the end of the third quarter, the company said. "It's the big opportunity for Michael Kors, growing stores, as that means a lot of runway for them to grow for at least two or three more years," said Chen. Comparable-store sales rose 41 percent in North America in the October-December holiday quarter, while larger rival Coach said last month same-store sales fell 2 percent in North America, only its third decrease in 11 years. "They (Michael Kors) are gaining market share from Coach, but it's not only Coach - it's also the little guys that are getting squeezed in a highly competitive market," Morningstar analyst Paul Swinand said. POPULAR ACCESSORIES Chen, the Citi analyst, said that Michael Kors' popularity as a brand allowed the company to be more flexible in pricing than its rivals. He said its focus on smaller handbags and accessories also presented a particular challenge to Coach.

Source of the problem: Upscale fashion brand Michael Kors is suing discount retailer Costco for allegedly falsely advertising its handbags at bargain prices without authorization ) However, in MichaelKors case, hes taking legal action against wholesaler Costco for advertising that they sell his labelshandbangs when, well, they dont. MORE: See a 29-Year-Old Michael Kors Posing With His Cat According to WWD , TheMichael KorsHolding Ltd.sued CostcoWholesaleCorp. in New York federal court, claiming the discount retailer falsely advertised that it sold Kors bags ine-mail blasts that it sent out in April before Mothers Day . The e-mailsreportedlyadvertised a selection of designer handbags starting at $99.99, and showcased a big picture of three purses, one of which was by Kors. Several other photos of the designers coveted bags were also featured in the advertisement, according to WWD. MORE: Rihanna Sues Topshop for $5 Million Over Graphic Tees Kors said the brand actively checked Costcos website and sent representatives to 19 stores, and were unable to find any proof that it sold Michael Kors handbags. Honestly, we think thats a pretty cheap trick on Costcos part to lure people onto its website and into its stores, and we dont blame Michael for taking legal action.

Handbags, watches fashion Michael Kors upbeat forecast

Piper Jaffray found in its latest Taking Stock With Teens survey a "staggering" jump in "mindshare" for the former "Project Runway" judge's accessories. It also found Kors handbags were the second most preferred among both average- and upper-income consumers, taking a 21% share in both brackets. As a result, Piper Jaffray analyst Erinn Murphy upgraded Kors to overweight from neutral and the price target to $90 from $73. She thinks Europe will be the next "catalyst" that could help drive earnings to near $6 a share going forward. Analysts expect $2.76 a share for fiscal 2014. Kors shares were up 1% in early-afternoon trading on the stock market today . Kors has soared 260% since its stock debuted at $20 a share in December 2011.

UPDATE 3-Handbags, watches fashion Michael Kors upbeat forecast

we consider them "conception figures" making a statement of brotherhood with a kiss." Tory Burch vs. Chris Burch and C. Wonder It's sticky when you divorce a guy and he decides to use your ideas to open up his own store. That's what Chris Burch allegedly did with C. Wonder in 2012, a retail concept that had a very similar tone and product offering to Tory's initial brand.

Kors Handbags, Accessories Trendy Among Teens

A shop-in-shop is a mini-store within a larger department store that houses similar products. In total, there were 388 Michael Kors stores worldwide at the end of the third quarter, the company said. "It's the big opportunity for Michael Kors, growing stores, as that means a lot of runway for them to grow for at least two or three more years," said Chen. Comparable-store sales rose 41 percent in North America in the October-December holiday quarter, while larger rival Coach said last month same-store sales fell 2 percent in North America, only its third decrease in 11 years. "They (Michael Kors) are gaining market share from Coach, but it's not only Coach - it's also the little guys that are getting squeezed in a highly competitive market," Morningstar analyst Paul Swinand said. POPULAR ACCESSORIES Chen, the Citi analyst, said that Michael Kors' popularity as a brand allowed the company to be more flexible in pricing than its rivals. He said its focus on smaller handbags and accessories also presented a particular challenge to Coach. Michael Kors Chief Executive John Idol said there was strong demand for luxury items in the third quarter from Europe and North America. He said he expected the global luxury market to keep growing at the same pace, without specifying a timeframe.

Michael Kors is Suing Costco For Claiming They Sell His Bags

The company had revenue of $640.90 million for the quarter, compared to the consensus estimate of $570.52 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The companys revenue for the quarter was up 54.5% on a year-over-year basis. On average, analysts predict that Michael Kors Holdings will post $2.76 earnings per share for the current fiscal year. A number of other analysts have also recently weighed in on KORS.

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