According to Citigroup, shares of Michael Kors Holdings Inc. are getting too expensive.
The stock fell 3.8 percent after it was downgraded to “neutral” from “buy” Tuesday morning by Citigroup. Citigroup analyst Oliver Chen said shares of Kors, even though he still expects strong comps likely to exceed guidance, have reached a fair valuation “given Kors’ 60 percent stock run in 2013.”
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)