The popularity of the Project Rock 1 could be a sign of improvements to come. “We believe that the limited availability (and subsequent restocking) is part of the company’s plan for managing the franchise to generate buzz and promote a ‘call to action’ and represents a positive for brand equity,” wrote Instinet analysts led by Simeon Siegel. On Monday, Stifel analysts raised their price target on Under Armour shares to $27 from $20 after discussions with the company. “We are particularly encouraged by opportunities for gross margin improvement from both elimination of the liquidation burden and improved sourcing (SKU [stock keeping unit] rationalization, materials planning, factory consolidation, capacity planning, etc.),” Stifel wrote. Stifel rates Under Armour shares buy. Other fashion brands, like Tapestry Inc.’s TPR, -0.86% Coach brand and Michael Kors Holdings Ltd. KORS, +4.90% have taken steps to reduce distribution in...
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