Chi Lee, Morgan Stanley

Polo Ralph Lauren Corporation (RL) - Chi Lee at Morgan Stanley

Revenue for the latest quarter fell 1% to $124 billion from $125 billion Analysts, on average, estimated Polo Ralph Lauren to earn $1 a share in the third quarter on sales of $125 billion, according to estimates compiled by FactSet Research "The upside surprise may not be enough to satisfy high investor expectations," said Morgan Stanley analyst Chi Lee, adding that the upside in the quarter was the smallest since the second quarter of fiscal 2008 

Macy's, Inc. (M) - Chi Lee at Morgan Stanley

That is up from its prior plan to close about 240 stores. Morgan Stanley analyst Chi Lee said he thinks Jones will beat Wall Street's current profit estimates next year, since it should benefit from opportunities to restock store shelves that have been kept light, the exit of the Liz Claiborne ( LIZ.N ) brand from stores such as Macy's Inc ( M.N ) and margin improvements in the retail business. Lee reiterated his "overweight" rating on the shares. REVENUE MISSES ON SALES DECLINES Net income in the third quarter was $30.4 million, or 36 cents per share, up from $27.3 million, or 33 cents per share, a year earlier. Excluding one time items, the company earned 46 cents per share, handily topping analysts' average estimate of 27 cents, according to Thomson Reuters I/B/E/S. 

Jones Apparel Group, Inc. (JNY) - Chi Lee at Morgan Stanley

That is up from its prior plan to close about 240 stores. Morgan Stanley analyst Chi Lee said he thinks Jones will beat Wall Street's current profit estimates next year, since it should benefit from opportunities to restock store shelves that have been kept light, the exit of the Liz Claiborne ( LIZ.N ) brand from stores such as Macy's Inc ( M.N ) and margin improvements in the retail business. Lee reiterated his "overweight" rating on the shares. REVENUE MISSES ON SALES DECLINES Net income in the third quarter was $30.4 million, or 36 cents per share, up from $27.3 million, or 33 cents per share, a year earlier. Excluding one time items, the company earned 46 cents per share, handily topping analysts' average estimate of 27 cents, according to Thomson Reuters I/B/E/S. 

Liz Claiborne, Inc. (LIZ) - Chi Lee at Morgan Stanley

That is up from its prior plan to close about 240 stores. Morgan Stanley analyst Chi Lee said he thinks Jones will beat Wall Street's current profit estimates next year, since it should benefit from opportunities to restock store shelves that have been kept light, the exit of the Liz Claiborne ( LIZ.N ) brand from stores such as Macy's Inc ( M.N ) and margin improvements in the retail business. Lee reiterated his "overweight" rating on the shares. REVENUE MISSES ON SALES DECLINES Net income in the third quarter was $30.4 million, or 36 cents per share, up from $27.3 million, or 33 cents per share, a year earlier. Excluding one time items, the company earned 46 cents per share, handily topping analysts' average estimate of 27 cents, according to Thomson Reuters I/B/E/S. 

Liz Claiborne, Inc. (LIZ) - Chi Lee at Morgan Stanley

NEW YORK, Feb 5 (Reuters) - Morgan Stanley upgraded Liz Claiborne Inc's ( LIZ.N ) stock on Thursday, and the fashion company's shares rose more than 20 percent. Morgan Stanley analyst Chi Lee raised his rating on the shares to "equal-weight" from "underweight," citing the stock's low valuation and the company amending its credit facility. "Furthermore, with 4Q 08 earnings pre-announced and the stock now trading at 3.5x our revised FY09 EBITDA estimate, we believe a weak earnings and cash flow outlook for FY09 is in the price." Lee said his prior rating was based on concern the company could violate certain debt covenants and run into liquidity problems amid the dramatic decline in consumer spending. But last month the owner of the Juicy Couture, Kate Spade and Lucky Brand chains amended its credit facility, giving it more financial flexibility.