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|Michael Kors has kept mum about whether Nordstrom has been dumping its bags, but Wall Street analysts have an inkling that’s what to expect on Wednesday when the design shop reports it fourth-quarter results.At least three firms — Nomura, Wells Fargo michael kors outlet [www.michaelkorsstoresoutletonline.com"] and Wedbush — published reports in the last several weeks showing that the high-end retailer was carrying fewer Michael Kors bags because they were not selling well and had to be heavily discounted to match competitors’ pricing.After Nomura’s report came out on May Coach Purses [www.coachpurseshandbagsonsale.com"] 10, Kors stock dropped 17 percent the next day, closing at $44.01 and dipping well below the $50 level it had enjoyed during the previous three months. On Tuesday, the stock closed at $42.72, up 2.2 percent.“There was no question that the products michael kors [www.michaelkorsoutletflashsale.com"] were underselling and that Nordstrom had a lot of price matching that it didn’t want to have to do,” said Nomura analyst Simeon Siegel, adding, “We see this as potentially concerning.”Nordstrom did not confirm or deny the reports, but insisted that its relationship Michael Kors Outlet [www.michaelkorsoutletonline2016.com"] with Kors has not ended and even debunked the research methods used by one of the firms, Wedbush Securities, which claimed that nearly half of Nordstrom’s stores had stopped carrying Kors’ bags in May and that they were the No. 1 returned bag michael kors handbags [www.michaelkorsoutletflashsale.com"] brand because of “poor craftsmanship.”Both Nordstrom and Macy’s, which accounts for 14 percent of sales, reported in their most recent quarters that bags were an area of pressure.As the London-based company’s bags have become so ubiquitous, upscale department stores like Nordstrom may be michael kors outlet [www.michaelkorsstoresoutletonline.com"] demanding more exclusive products.“To the extent that Nordstrom and Kors are trying to evolve their relationship, it could make sense to clear the floors and start again with a more exclusive product,” Siegel said.|
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