Why Coach's CEO Doesn't Think Retail Is Dying
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Version 0 of 1. The impressive turnaround at Coach (COH) rages on, despite malls across America darn near falling apart due to the shift to online shopping. On Tuesday, Coach reported adjusted earnings of 75 cents a share, ahead of Wall Street estimates for 74 cents a share. Revenue climbed 4% from the prior year to $1.32 billion, meeting analyst estimates. North American same-store sales rose 3%, topping forecasts for an increase of 2.2%. As in recent quarters, Coach was helped by a venture into more premium handbags such as its 1941 collection. Coach's sales of handbags priced above $400 rose to 50% of its retail store sales, up drastically from 30% a year ago. |