Diamonds and Dogs
Scotts Miracle-Gro. (SMG) is growing again. The lawn and garden stock is up 6% to a new 52 week high after posting better than expected earnings even as revenue of $994.1 million came in light of expectations. I guess the dry summer has been good to lawn care sales. Scott's stock is up 14% year to date and up 23% in the last 12 months.
Kate Spade (KATE) not so luxurious anymore. The luxury retailer and handbag maker is down 20% after disappointing quarterly profits and guidance thanks to weakening sales to tourists. Like many other retailers, Kate Spade has been focused on reducing the number of promotions in its brick-and-mortar stores due in part to declining number of tourists visiting the U.S. because of the strong dollar.