How Do I Edit IE Favorites?

[Eric J F]

Maybe I'm missing something obvious, but I can't figure out how to manage IE Favorites on WP 8.1. I can edit and delete individual favorites, but not folders.

Other than syncing with an 8.1 PC, has anyone found a way to edit and delete favorites folders on the phone?

 

[MDK22]

LONG press on the FAVORITE, then select EDIT or DELETE.

 

[Eric J F]

Sorry, I wasn't clear enough; I edited my question to clarify I want to edit or delete favorites folders on the phone.