Wednesday, February 1, 2017

Luxury retailer tops Q2 estimates

Despite a volatile global retail environment, Coach increased sales and profits for its fiscal second quarter.
 
The luxury handbag and accessories retailer reported revenue of $1.32 billion for the quarter ended December 31, 2016, up 4% from $1.27 billion last year. The retailer’s net income was $200 million, up from $170 million in 2015.
 
Total North American Coach brand same-store sales rose approximately 4%, while aggregate North American comparable store sales increased approximately 3%, including the negative impact of e-commerce. As expected, sales at North American department stores declined approximately 30% on both a POS and net sales basis.. . . more

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