fashion-features
fashion-features

Coach Profits Leap 41.4% as Brand Plans 100 More U.S. Stores

NEW YORK — The brand may be "Coach," but to judge from its earnings and forecast, it definitely flew first class in the second quarter.Coach...

fashion-features/news
View Slideshow
Also built into the guidance, Devine said, is a second-half EPS of at least 48 cents, with the third and fourth quarters about equal, versus the 34 cents reported for the same period in 2002 and analysts’ expectations of 42 cents. Sales are expected to grow 20 percent while comps should increase in the high-single-digit range.

Impressed with the results, Ann-Marie Peterson, an analyst with Thomas Weisel Partners, said Coach is in the "sweet spot" of many trends, including the shift to value and the growing importance of accessories.

"Coach is doing a tremendous job at educating women to the importance of accessories and giving them a product each season to do that and saying that handbags are not a replacement-driven product, but fashion-driven."

For the first half, profits rose 49.7 percent to $84.9 million, or 92 cents, versus year-ago profits of $56.7 million, or 63 cents. Sales amassed to $501.3 million, an increase of 29.7 percent over the $386.5 million reached in the first half of 2002.
View Slideshow
Page:  « Previous
VIEW ARTICLE IN ONE PAGE
load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.
News from WWD
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

LatestPublications
getIsArchiveOnly= hasAccess=false hasArchiveAccess=false