USA: Coach Lifts Capital Spending To $60m
Leading marketer of luxury leather goods, Coach Inc, has revealed it expects capital expenditures to increase 40 per cent to $60 million in fiscal 2003 as it looks to open up to 20 new stores. The New York-based company, which last month posted a 61 per cent jump in second quarter net profit to $62.4m, said in an SEC filing it will spend $17m on new US retail and factory stores and $15m on store expansions and renovations.
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