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Takeaway: KORS is having a fantastic year and growth is through the roof. The company is expanding in both the US and in Europe which is no easy task.

Hedgeye's Retail teamhas been agnostic on Michael Kors (KORS) since we issued a Blackbook on the stock back in March. However, based on yesterday’s +16.4% rip in the stock, we can no longer stand on the sidelines. We are deeming KORS an unshortable stock. This company is golden.

At $49 a share, some might call KORS expensive. We call that poppycock. This company is on fire. Strong numbers all around, P&L is on fire, and the company is ripping market share from competitors, including Coach (COH), which we continue to remain bearish on. Check out the growth in KORS versus COH below:

KORS: The Unshortable Stock  - KORSCOH

The story for 2013 remains positive for KORS. This is one of the few companies that has strong European growth on top of US growth – a rarity in this day and age. While we like KORS, we’d still rather buy Fifth & Pacific (FNP).