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....
- Supply chain mapping using the Bitcoin blockchain
- Mexico makers see rise in exports and local demand
- Euro decline weighs on Turkish clothing industry
- VF Corp confirms interest in Africa sourcing
- G-Star RAW pushes the boundaries of denim
- UK retailers to answer over human trafficking
- New dye-sublimation printers for sportswear
- LF Corp to streamline planning and sourcing
- Uniqlo owner highlights supplier factory progress
- Clothing a top category for mass personalisation
- Ethiopia – the emerging textile and clothing industry
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Management briefing: Factory safety and auditing: The key challenges
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Global market review of workwear - forecasts to 2019