Report
Bridget Weishaar
EUR 98.48 For Business Accounts Only

Coach’s Planned Kate Spade Acquisition Leverages Core Competencies; Shares Fairly Valued

We think narrow-moat Coach’s intent to purchase Kate Spade is strategically sound, allowing for management to use its talents in elevating brand distribution channels and achieving supply chain efficiencies to deliver returns for shareholders (with management expecting it to be accretive in fiscal year 2018 and plans for it to reach double-digit accretion in fiscal year 2019). Although we expect some top-line declines at the brand as we believe management will likely exit some lower tier distrib...
Underlying
Tapestry

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Bridget Weishaar

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