Michael Kors Holdings Down Amid Increased Discounting

Michael Kors Fall/Winter 2014 campaign | Source: Michael Kors

Michael Kors Holdings Ltd. fell the most in more than two months in New York trading after Credit Suisse Group AG cut its rating on the stock, saying slowing handbag demand has led to a “dramatic” increase in discounting.

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Market Pulse | A Chilly Summer

Savigny Luxury Index July 2014 | Source: Savigny Partners

The Savigny Luxury Index fell a further 3.8 percent this month.  The outlook for the luxury goods sector darkened as disappointing results from industry leader LVMH showed how the strong euro and political protests in Hong Kong were curbing spending and hitting profits.

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Analysts Downgrade Michael Kors Due to Slowing Sales Growth

Michael Kors S/S 2014 campaign | Source: Michael Kors

NEW YORK, United States — Michael Kors has been riding high with investors, but the retailer's stock is falling this week as some analysts take a look at slowing sales growth and deeper discounts. Two analysts cut their price targets on the stock.

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