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Actionable news in KORS: MICHAEL KORS HOLDINGS LIMITED,

Michael Kors Was Irrelevant, So It Spent $1.2 Billion for Jimmy Choo — Jim Cramer Explains

Shares of Michael Kors (KORS) are down about 4% to $33.53 in Tuesday trading after it was announced the company will acquire Jimmy Choo plc (JYMHF) for $1.2 billion.

It looks as if Kors is trying to replicate the "brilliant" move Coach (COH) made earlier this year when it bought Kate Spade (KATE) for $2.4 billion, TheStreet's founder Jim Cramer, who also manages the Action Alerts...


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