Confident outlook at Coach
US-based leathergoods company Coach says it is poised for an "outstanding" quarter and is confident about longer-term prospects after revamping its business to adjust to a more value-conscious consumer.
"We're at an exciting inflection point having come out of the severe recession. We believe [we are] better-positioned for success than we were when we entered this period," Coach CEO, Lew Frankfort, said at the Reuters Global Luxury Summit in New York on June 1.
Mr Frankfort said he is sanguine about the company's sales prospects for its handbags and other accessories over the next 12 to 24 months despite the difficult economic climate. Part of the reason is that consumers are better-prepared to adjust if the economy takes a second dip into recession, he said.
