This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Greenberg: Kors Calls Speculation 'False and Unfounded'

SAN DIEGO (TheStreet) -- Michael Kors (KORS - Get Report), through a letter to TheStreet from its outside counsel, says that my piece from last week that wondered if the company had communicated with analysts regarding the coming quarter is incorrect. "The accusations are completely false and unfounded," the attorney said.

He added that had I called the company prior to publication I would have received "vehement denials and assurances" that Kors "takes Regulation FD compliance very seriously."

I didn't call because this is a blog steeped in observation, analysis and commentary. The Kors news was timely, and, in fact was discussed earlier in the day on social media (by me and others) as well as on CNBC. Concerns about multiple analyst actions on any company often lead to questions about why.

Of course, had a company spokesperson or executive called us immediately their comments would have been duly noted. And, of course, in retrospect I wish I had called them.

Greenberg: Kors Analyst Action -- Coincidence or Not?

Greenberg: Where Are the Cops?

Greenberg: No Surprise in Potbelly's Flop

In the piece, I had questioned why, in a single day, on no news, four analysts took negative action on the stock. Within several days, at least three additional analysts took similar action, most citing concerns about the level of markdowns.

As I pointed out on Twitter, but not in a subsequent blog, several other analysts the following day disagreed and reiterated their buys, saying they believe markdown concerns are overblown.

One tweet said, "In other news, Cowen's Faye Landes says $KORS IR says it hasn't been talking to analysts; she sees no risk, weakness 'excellent entry pt.' "

Kors reports earnings Aug 5.

-- Written by Herb Greenberg in San Diego

Follow @herbgreenberg

Herb Greenberg, editor of Herb Greenberg's Reality Check, is a contributor to CNBC. He does not own shares, short or trade shares in an individual corporate security. He can be reached at


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Herb's Tweets

Select the service that is right for you!

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
Real Money Pro

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Trifecta Stocks

Trifecta Stocks analyzes over 4,000 equities weekly to find the elite 1% of stocks that pass rigorous quantitative, fundamental and technical tests.

Product Features:
  • Model portfolio
  • Trade alerts
  • Recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Growth Seeker

Chris Versace, using sophisticated stock screening and fundamental research, identifies potentially explosive small and mid-cap stocks.

Product Features:
  • Model portfolio
  • Small-cap and mid-cap focus
  • Intraday trade alerts
  • Weekly roundups
Daily Swing Trade

Master swing trader Alan Farley uses his sophisticated software screens to review thousands of stocks each day for you, to find just the handful that meet his demanding criteria.

Product Features:
  • Daily commentary and coaching on swing trading
  • Technical charts and analysis
Top Rated Stocks Top Rated Funds Top Rated ETFs