US: Coach Q2 earnings and sales tumble
North America sales were impacted by substantially lower traffic in stores
Upscale footwear, handbags and accessories retailer Coach Inc has booked a drop in second-quarter earnings and sales on the back of weakness in its North American business.
In the three months ended 28 December, net income dropped 15.8% to US$297m from $353m a year earlier.
Gross margin was 69.2% versus 72.2% reported in the prior year period.
Sales in the quarter also fell, to $1.42bn from $1.5bn in the comparable period of fiscal 2012.
"During the holiday quarter, total sales fell slightly in constant currency as weakness in our North American women's bag and accessories business offset strong growth in men's, footwear, and robust results in emerging Asian markets and Europe," said Coach CEO Victor Luis.
"We continued to be disappointed by our performance in North America, which was impacted by substantially lower traffic in our stores and by our decision to limit access to our e-factory flash sales site."
Canadean's "Coach, Inc. : Retailing - Company Profile, SWOT & Financial Analysis" contains in depth information and data about the company and its operations. The profile contains a company overview, ...
Sycamore Partners, the owner of Stuart Weitzman Holdings, has declined to comment on reports it has been working on a deal for a sale of the company to footwear business Brown Shoe Company....
Vital industry-specific data including metrics, benchmarks, historic numbers, growth rates and forecasts that will save countless hours of research....
- M&S project benefits garment worker health
- M&S to launch supply chain human rights policy
- VF pushes ahead on chemicals management
- Leveraging the business benefits of 3D design
- Bangladesh courts buyers with sustainable producti
- Myanmar makers mull shut-downs over wage plans
- Cotton tracing "biggest challenge" for M&S
- American Apparel to close stores and cut jobs
- WEBINAR: Compliance: Why has it failed?
- Lee ReThink taps into sustainable supply chain