Improved margins and holiday sales boost Coach profits
For the quarter ended December 28, 2002 the company is now expecting earnings of at least $0.65 per share – three cents more than its previous guidance of $0.61 of October 22 and ahead of analysts' expectations of $0.62. Comparable store sales were up 12.7% to $308.5 million versus the company’s own expectations of $290 million. Direct-to-consumer sales increased 19.3% to $191.5 million, retail stores by 18.1% and factory store sales 5.8%. Indirect sales soared 55.5% to $117.1 million – the main drivers being increased
The results will be reported before the opening of the market on
