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financial

Coach Still on a Roll:As Profits Leap 60%, Big Expansion Ahead

Coach’s first-quarter sales jumped 33 percent, earnings rose 60 percent, its store count is set to add 100 units and it will remodel its flagship.

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In Japan, at least 10 stores are slated to open in the next year. Roughly 15 of Coach’s most productive shops in Japan also will be expanded, which will add about 14,000 square feet, or 11 percent, to its retail base, Frankfort said. The expansion is expected to help sales in Japan increase by at least 25 percent in the calendar year to $355 million.

Coach sees second-quarter earnings of 64 cents on sales of at least $505 million. Analysts are expecting earnings of 62 cents with sales of $506 million. The company earned 50 cents in the year-ago second quarter.

Riding Strong

Coach outlined 10 key concepts and items for the holiday season. Collectively they are expected to represent about 50 percent of business in the second quarter.

  1. New takes on Legacy Duffel handbags that “were inspired by iconic Coach styles and reinterpreted into modern, sophisticated silhouettes,” according to Michael Tucci, Coach’s president of North American retail.

  2. Smaller handbags — called Demis — in new shapes, such as the Soft Demi.

  3. Soho Small Hobo and Small Flat Hobo handbags in different fabrics and colors, from Mini Signature to suede.

  4. Gallery Totes in the classic, larger size, a Signature Wave style and a smaller size in suede featuring perforated design detail.

  5. Madison: Coach’s first lifestyle evening collection, which will include handbags, accessories, hats, scarves, gloves, shoes and outerwear. Launches Nov. 1.
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