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Hershey's meaty deal, Coach could have been worse & Kate Spade closing stores

Jeff Macke

Coach (COH) shares are climbing more than 5% on a case of it could have been worse. While profits of $0.66 per share and revenue of $1.2 billion were basically in-line with estimates, comp-store sales are still in free fall. In North America, sales fell 22% and Japan was down 18%. China managed to buck the downtrend with a 12% rise. Coach's CEO says the brand's improvement is ongoing and is counting on newly acquired shoe designer Stuart Weitzman to help salvage the rest of the year. On a technical basis there's a nice long support base there but greater minds than mine have been destroyed calling bottoms on fashion companies. There will be plenty of time to buy Coach shares if becoming a shoe store works for them.

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Kate Spade (KATE) shares are up by about 10% on proof that the company knows the difference between retail and real estate. Kate said it will close 16 Kate Spade Saturday and 12 Jack Spade stores. Why? Because you don't need stores. Kate Spade sells high end things you put on your body, not parking spaces at the mall. Industrious customers will be able to find all the Kate and Jack stuff they want using that fancy Internet thing the kids are all talking about lately. By the way, they also noted comp-sales for 2014 likely jumped over 20%.

Investors are taking a hammer to Hershey (HSY). Shares of Don Draper's favorite candy bar company are down 7% after missing sales estimates for the 6th time in 2 years.  So what do you do if your core candy business is faltering a bit? Diversify into meat, naturally. That's right Hershey has purchased Krave Pure Foods which makes Krave Jerky. Terms of the deal were not disclosed. Hershey says meat snacks are hot right now. Wondering we'll see a meat flavored Hershey's Kiss down the road?

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