Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Jones Group
So what: The move would allow Jones -- whose stock has taken a huge beating over the past year -- to focus on its higher-margin, higher-growth luxury brands. Additionally, management said that it would probably use a big chunk of the sale's proceeds -- estimated at $350-$400 million -- for share buybacks.
Now what: I'd cautiously look into Jones as a possible value pick. High cotton prices have weighed heavily on Jones' margins in recent months, so fully transforming into a less economically sensitive luxury accessories business -- a la Coach
Interested in more info on Jones? Add it to your watchlist.
Fool contributor Brian Pacampara owns no position in any of the companies mentioned. The Motley Fool owns shares of Coach and Fossil. Motley Fool newsletter services have recommended buying shares of Coach and Fossil. Try any of our Foolish newsletter services free for 30 days.