Deutsche Bank released a note Tuesday reviewing three big names in the apparel space that will be reporting Q4 earnings in the next couple of days: Michael Kors Holdings Ltd KORS, Ralph Lauren Corp RL and Under Armour Inc UA.

Analysts gave their take on what they expect from each company’s earnings reports and listed some critical questions that need to be answered.

Guidance Rules

Analysts predict that 4Q14 earnings will be in-line with consensus estimates, but are more focused on what management’s guidance will be for 2015.

Analysts note that the retailers could continue to see foreign exchange headwinds in 2015, and note concerns about the potential for slowing tourism numbers because of the sluggish global economy. However, they remain positive on these three names overall.

Ralph Lauren

Analysts are looking for Q4 earnings per share of $2.47 on revenue of $2.099 billion. They will be looking to see if European performance has weakened, and if store comps have rebounded during the quarter. They will also be eager to see if management will provide initial 2016 revenue guidance.

Under Armour

Analysts are predicting Q4 EPS of $0.40 on $861 million in revenue. Both of these numbers are slightly higher than the Bloomberg analyst consensus numbers.

Deutsche Bank believes that there is upside potential for the quarter, as they see management’s previous guidance for the quarter as conservative.

Michael Kors

Analysts are forecasting EPS of $1.31 on revenue of $1.278 billion for Q4. Both of these numbers are below Bloomberg consensus estimates.

Deutsche Bank analysts will be watching comps numbers, shrinking margins and foreign exchange pressures.

It’s Going To Be A Big Week

All three companies report earnings either Wednesday or Thursday of this week. Deutsche Bank rates the three stocks as Buys, but names Under Armour and Michael Kors as their top picks.

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