Fashion is fickle. One day you’re the coolest kid in school wearing your Member’s Only jacket and the next you’re the old guy hanging on to that trend for a little too long. This “boom-bust” cycle of fashion can make millionaires overnight and force titans of industry into bankruptcy. That’s the reason why you see new stores popping up all the time at the local mall. Trends change, fashions change, over and over again.

What was the hot item last year now finds itself on the clearance racks at TJ Maxx. Today’s Bear of the Day, Michael Kors (KORS - Analyst Report) may have had its best days in the rearview mirror. Michael Kors is a global luxury lifestyle brand which launched over 30 years ago. Michael Kors has featured distinctive designs, materials and craftsmanship with a jet-set aesthetic that combines stylish elegance and a sporty attitude.

KORS is scraping the bottom of the barrel as a Zacks Rank #5 (Strong Sell). Being the momentum guy here at Zacks there’s another rank that’s sticking out like a sore thumb as well. KORS has a Momentum Style Score of “F” indicating negative revisions and weakness relative to other stocks in the industry.

It’s not often that you see double-digits earnings estimate revisions in either direction but that’s exactly what you have here with KORS. Over the last thirty days a whopping 13 analysts have revised their earnings estimates for the current year to the downside. The bearish sentiment on Wall Street has pushed down the Zacks Consensus Estimate from $4.77 all the way down to $4.38.

As for the stock price, shares have been under steady pressure for most of the last year. Peaking just above $83 in September 2014, shares have been hit again and again by disappointing earnings and guidance. The last huge drop in the stock occurred in late May of this year, cutting shares down from $60 to $45.88 in a single trading session.

The recent bearish move downward has taken out that bottom seen in late May and shares now trade at $44.91. With the bottom falling out, you have to wonder where the next level of support is going to be for KORS.

Investors looking for other ideas within the same industry should take a look at Zacks Rank #1 (Strong Buy) stocks GIII Apparel (GIII - Snapshot Report) and Perry Ellis (PERY - Snapshot Report).