Yahoo Finance Today’s Research Reports on Stocks to Watch: Naked and Ralph Lauren
NEW YORK, NY / ACCESSWIRE / November 7, 2018 / Naked Brand Group shares were on a tear on Tuesday after the company announced that it has completed a $3.4 Million private placement of ordinary shares and warrants. Shares of Ralph Lauren were in the red after reportingsecond quarter results.
RDI Initiates Coverage on:
Naked Brand Group Limited
https://www.rdinvesting.com/report/?ticker=NAKD
Ralph Lauren Corporation
https://www.rdinvesting.com/report/?ticker=RL
Naked Brand Group Limited shares closed up 43.36% on about 7.3 million shares traded on Tuesday. Trading volume was monstrous compared to the stock's average trading volume of just around 134,000 shares. The intimate apparel and swimwear company has closed a private placement of ordinary shares and warrants for aggregate gross proceeds of approximately $3.4 million with two accredited investors, including the Naked CEO, Justin Davis-Rice, and the company’s largest institutional shareholder, Armistice Capital. "Our continued investment in Naked reflects our confidence in the company’s ability to exploit its under-leveraged operating infrastructure with its global flagship, heritage andmass market brands in addition to synergistic eCommerce targets in the United States," commented Steven Boyd, Chief Investment Officer of Armistice Capital. “Over time, we believe Naked shares will start to reflect the turnaround that has taken place in the last twelve months." Justin Davis-Rice, Chief Executive Officer of Naked Brand Group Limited stated, “This additional capital strengthens our balance sheet and will support a number of near-term objectives. We appreciate the support of our existing shareholders and the confidence this additional investment conveys in our business."
Access RDI’s Naked Brand Group Limited Research Report at:
https://www.rdinvesting.com/report/?ticker=NAKD
Ralph Lauren Corporation shares closed down 6.59% yesterday on about 5.4 million shares traded. The clothing company saw the losses despite reporting second quarter financial results that beat estimates. The Company also lifted full-year guidance. "Ralph Lauren did beat, but relative to the past two-to-three years the beat was fairly subdued (EBIT [earnings before interest and taxes] beat by 3%,however this is the smallest beat in three years and compare to the 12-24 month average of +10%)," said Wells Fargo in a note. Wells Fargo rates the stock at "market perform" with a $130 price target. Analyst Camilla Yanusshevsky of CFRA wrote, "[M]uch progress in reviving North America (up 1%) and tightening inventories (up 15%) remains to be made." The firm downgraded the stock from "hold" to "sell." Ralph Lauren also changed its same-store sales metric from a comparison based on stores operating "at least one full fiscal year" to "at least 13 full fiscal months," which CFRA finds suspicious. "In our view, the definition change may be an indication that new stores are underperforming," Yanusshevsky wrote. Ralph Lauren President and CEO Patrice Jean Louis Louvet, said on the earnings call, "We are pleased with our second quarter fiscal 2019 results that reflect continued progress on our Next Great Chapter strategic growth plan. We delivered both top and bottom line growth as we continued to focus on returning the company to quality growth and value creation. Our results were driven by double-digittop line growth in Asia and sequential progress in North America and Europe."
Access RDI’s Ralph Lauren Corporation Research Report at:
https://www.rdinvesting.com/report/?ticker=RL
Our Actionable Research on Naked Brand Group Limited (NASDAQ: NAKD) and Ralph Lauren Corporation (NYSE: RL) can be downloaded free of charge at Research Driven Investing.
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