Why michael kors’ shares are in the doghouse New york(Thestreet)Michael kors(Kors)Shares are in the doghouse with investors, as analysts voiced concerns over the fashion accessory retailer’s profitability going forward. The analysts’ notes come following news on monday in which the wall street journal noted that the hong kong based retailer known for its”Jet set”Fashion goods should take a lesson or two from its competitor, coach(Coh), specifically it was a word of caution against over expansion.Shares dropped 7.7% to $79.08 on Tuesday a level not seen since early February. Shares have fallen approximately 13% since it reported its fiscal fourth quarter earnings on may 28. On tuesday, a flurry of analysts voiced caution over michael kors.Maxim group analyst rick snyder downgraded shares to”Hold”From”Buy”And his 12 month price target by $24 to $85.Snyder cited concerns that”Domestic sales have weakened to a greater degree than anticipate,”According to the research note. “Our checks indicate that this has led to increased markdown activity, which is likely to pressure gross margin,”Snyder wrote. “We believe that current concerns over michael kors’ gross margin will michael kors online outlet lead to multiple contraction as investors lose confidence in their near term growth prospects. ” Sterne agee analyst ike boruchow, who rates shares”Neutral,”Also sounded the alarm.He says that while sales growth at the retailer is still”In flight,”He too worries that margins could be”Nearing the end of the runway,”According to a note on tuesday.Boruchow cut his 12 month price target by $8 to $92, and lowered his fiscal 2015 estimates by 5 cents to $3.95 a share and fiscal 2016 earnings estimates by 15 cents to $4.55 a share. “Investor sentiment has shifted significantly post q4 results, with questions increasingly focused on the trajectory of top line, as well as sustainability of margins,”Boruchow penned in a note to clients on tuesday. “While sales growth is likely to remain strong in the near term, our recent store work has found broader/deeper markdowns within retail stores and key wholesale accounts.Whether these ‘red flags’ are a tipping point in profitability remains to be seen;That said, we recommend remaining sidelined until we gain greater visibility. ” Boruchow continued: “Elevated inventory levels, broader discounting, and investment needs may all combine to pressure margins in the near future, and as a result, we believe it will be difficult for the stock to outperform materially despite solid top line trends. ” Citigroup analyst oliver chen slashed his 12 month price target on the company by $19 to $98 on tuesday.Chen, who rates kors”Neutral,”Is worried the stock could be”Range bound”Over the near term, based on the answers to a survey citi completed that had 62 respondents.Concerns include: “Additional commentary on lack of newness and limited selection;Elevated clearance levels in full price stores(30 50% off promotion for 30% of thestore);A risk of moderating store productivity levels given notable store expansion cadence,”According to the note. While sales trends were”Strong”In april and may, according to chen, up +15.15% and +13.71% respectively, sales growth slowed to +7.8% in June.Chen tweaked his full year earnings estimates lower by michael kors outlet australia 5 cents to $3.95.
Archive for month: October, 2015
Single integrated operational plan The single integrated operational plan(Siop)Represents both a plan and a planning process which specifies how american nuclear weapons would be used in the event of nuclear war.The term siop has been replaced by one or more conplans(Contingency plans), but the term SIOP is still widely used in strategic discussions.National security policy. The united states strategic command is responsible for the execution of such plans, by whatever name.Current doctrine, however, recognizes that nuclear weapons may not be the most decisive and appropriate means of enforcing critical national policies.Precision guided munitions, including weapons that can penetrate to deep shelters, may offer non nuclear alternatives.The kinetic energy of an intercontinental ballistic missile warhead, filled with inert material, may be sufficient to destroy extremely hardened targets. An enemy that cannot communicate cannot fight, so information operations and electronic warfare are additional means that can be decisive, without any physical effect. Before the siop, nuclear war planning was done independently by the united states air force and united states navy, with limited involvement from the united states army when it still had long range nuclear weapons.Until the late eisenhower administration, there had been no civilian policy input into nuclear planning, and, when eisenhower’s representative george kistiakowsky, a key person in designing the first nuclear weapons, reviewed the plans, was shocked by what seemed a mismatch between the policy goals of the use of nuclear effects, and the effects of the weapons selected for specific targets.The guide is converted by the secretary of defense into the nuclear weapons employment policy(Nuwep)Of basic targeting objectives, target lists and operational constraints.The nuwep is then delivered to the joint chiefs of staff(Jcs)And emerges as the joint strategic capabilities plan(Jscp).The jscp is then converted into the actual targeting orders, timing, and weapon allocation that comprise the siop(And successors)By the usstratcom, which matches weapons effects with the damage intended and the collateral damage to be avoided.The entire process takes up to 18 months.Under president clinton, the siop held four major attack options, 65 limited attack options, and a number of generalised adaptive options for threats originating outside russia or china. Nuclear strike targets are listed as the national target base(Ntb), which is built from an intelligence list of ralph Lauren 150, 000+ sites across the world.The number of targets in the ntb has varied enormously from around 16, 000 in 1985, 12, 500 following the collapse of the soviet union, and 2, 500 in 1995 before rising to the current list of 3, 000 targets.This was first officially applied to siop 93;Prior to that, plans used a two character alphanumeric designation.A new siop is approved every year, although the plan may well be unchanged. The most recent plan(See below)Involving general nuclear war is conplan 8044. Effects of various strike options The us nuclear arsenal holds around 7, 000 individual warheads.A strong counterforce strike(Military targets)Using up to 1, 500 warheads is estimated to cause approximately 120 million casualties;A limited countervalue strike(Civilian targets)Of 200 warheads is estimated to cause approximately 50 million casualties.These estimates are controversial and may be conservative.Ignoring hypothetical long term effects such as nuclear winter, many of the casualty estimates were based on blast effects alone.Even blast effects are highly dependent on burst altitude, weapon yield, and the geography of the target area.As opposed to the general experience with conventional explosives, the overpressure caused by an explosion is not a simple inverse cube relationship.Instead, the potential of superheated air produces two potential overpressure patterns from a weapon of a given yield, detonated at different altitudes, according to the mach effect. Essentially, exploiting the Mach effect allows a choice of a small area of very high overpressure, as might be needed for a hardened facility such as a missile silo or command most, or a much larger area of lower overpressure, which would still destroy civilian buildings and many military structures. High overpressures are essential in counterforce attacks against what may be superhardened targets, while ordinary buildings and factories, the targets of countervalue attacks, would be destroyed by much lower overpressures.Geography and terrain would be factors.For example, the nuclear explosion at nagasaki was in a valley, where hills partially protected adjacent areas.The main hiroshima target area was flat and the pressure was roughly symmetrical from the designated ground zero(Dgz)Of the aoki bridge. In the early planning, blast was the only factor given serious consideration..Even with this assumption, which is a vast oversimplification, there is a complex balance among the desired operational and policy effects, the number and yields of weapons available, and the methods and probabilities of accurate delivery. Certainly in the fifties, the supply of bombs was distinctly limited.Before the siop, it appears some sac thinking was maximizing damage over the most psychologically effective area.Attacking a military installation, if bombs were limited, might lower the probability of destroying the most critical targets, in the interest of affecting a larger area.Most people in range of lethal radiation would also be in lethal range of blast or thermal effects.While both thermal and ionizing radiation decrease according to an inverse square law, much of the ionization radiation is also attenuated by air. The”Neutron bomb”, or enhanced radiation weapon was intended as a tactical weapon that would not be used by TheSIOP. Such devices, while still producing enormous blast and heat, produce relatively more immediate ionizing radiation than would Thelarger yield weapons delivered as part of SIOP.Enhanced radiation was also a design objective of certain warheads on defensive weapons, intended to damage incoming strategic warheads with x rays.It is known that nuclear explosions produce varying intensities of electromagnetic pulse(Emp), which has Thepotential to damage electronic equipment. Effective power, coverage, and frequencies of Theelectromagnetic pulse are dependent, at a minimum, on Theyield of Thenuclear weapon and Thealtitude of Theburst. Unexpectedly large fallout pattern from castle bravo thermonuclear bomb testdelayed and http://www.irmina.co.uk/ continuing ionizing radiation comes from fallout products of the explosion. An analysis by stanford university historian lynn eden uses the example of a 300 kiloton weapon bursting, on a clear day, 1500 feet above the pentagon.Blast would destroy the pentagon, which is not a hardened facility, and nearby buildings.According to eden, a much larger area set ablaze by the high levels of thermal energy released by the bomb. “Within tens of minutes, the entire area, approximately 40 to 65 square miles everything within 3.5 or 6.4 miles of the Pentagon would be engulfed in a mass fire”That would”Extinguish all life and destroy almost everything else. “
Score four straight titles for bishop’s When she began playing water polo as an eighth grader, christina michel was deemed a slow swimmer with long arms, so she was put in goal.To close her high school career, she ended up in the spotlight for bishop in the division ii championship game. Andrea flores spent three years as a reserve on the bishop varsity until cracking the lineup her senior season.She would end up scoring the only goal of the fourth quarter to lift the knights http://www.irmina.co.uk/ past coronado 6 5 for their fourth consecutive section title last night at la jolla high coggan pool. Michel made her first save on a penalty shot in the opening quarter and finished with six saves, keeping the second seeded knights(29 2)Close until they took their only lead on flores goal with 2:58 to play. Was pretty intense, said michel, who will attend princeton.Was a little nervous, but we been practicing hard and we knew we could come up big in the end.Used a lob shot to convert the game winner after the knights came back from a 5 3 deficit in the third quarter, pulling even on the second goal of the game by all time section scoring leader sarah van norman with 1:07 left in the period. My goodness, this feels so good, flores said.Wasn my goal, it was ours.These girls are my family.Knights avenged their only losses of the season in the last two of their three regular season meetings with top seeded coronado(25 7).The islanders were attempting to win their first crown since ending a three year reign by bishop in 2003. An unbelievable win, said knights coach doug peabody, whose school became the first in section history to take four straight titles.Probably our best in the last four years.The other three were great, but to come through like this is remarkable.Norman and chelsea smith carmichael started all four years during the title run.Michel, flores and winnie eastwood each played with ralph lauren sale UK the varsity since at least the end of their freshman years. Is great, michel said.Since we were freshmen, we were hoping to do this.Held coronado scoreless over the final 11:42, surviving an Islanders penalty shot that went wide with 2:06 to go.