Hertz, Kate Spade and Ford lead rising stocks

Kate Spade International net sales for the fourth quarter rose 18.7% to $51 million from $43 million, “excluding sales for wind-down operations”, and the company said comparable store sales continued to accelerate in Japan, while a joint venture agreement in China has strengthened its brand position there. The luxury hand bag retailer posted better-than-expected quarterly numbers for the stores established for at least a year, as its focus on the flagship brand continued to drive momentum. The company said it had $0.32 in earnings per share (EPS) on $429 million in revenue, which compares to consensus estimates from Thomson Reuters of $0.32 in EPS on revenue of $441.64 million.

Reported North American net sales for the fourth quarter of 2015 were $371 million, an increase of $45 million, or 13.6%, from the comparable 2014 period. Net sales during the company’s fourth quarter were $429m, up 7.6 per cent from $398.6m in the prior year.

The newly formed partnership will leverage Reliance Brands Limited’s in-depth market expertise in India and the increasing global demand for kate spade NY products to establish a network of standalone stores across major Indian cities beginning later in 2016.

Kate Spade & Company (NYSE:KATE): The mean estimate for the short term price target for Kate Spade & Company (NYSE:KATE) stands at $29.22 according to 9 Analysts. Revenue was reported as $1.24 billion. The Company operates specialty retail stores, outlet stores and concession stores.

“In 2015, we became a stronger, refocused Kate Spade & Company”, remarked Craig A. Leavitt, chief executive of Kate Spade. They made important progress along their 2 axes of growth – product category and geographic growth – presenting 14 new product categories and entering eight new countries.

Kate Spade & Co (NASDAQ:KATE) issued an update on its FY16 earnings guidance on Tuesday morning. In addition, the strong discipline about how it sells its products has also bolstered value. At the time of writing, the stock had hit $21.71.

The handbag retailer recently announced that it would launch the brand in India, through an alliance with Reliance Brands Ltd, a business unit of Reliance Industries Group.