Decent quarter for Coach despite “pullback” from department stores
01/11/2016
Net sales were just over $1 billion, an increase of 1%. Gross profit on this figure was $715 million, which is 3% higher than the figure for the same quarter last year.
Chief executive, Victor Luis, said on announcing the figures: “We are pleased with our performance in the quarter, highlighted by continued positive comparable store sales in North America and growth internationally. We remained focused on elevating the perception of the Coach brand through compelling product, differentiated store environments and emotional marketing.”
He pointed out that Coach had achieved a good first-quarter result in spite of a “deliberate pullback” from department stores across North America.
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