Premium handbags lift Q1 results at Coach
25/10/2006
New York-based luxury and leather goods retailer Coach, Inc. has reported increased earnings and sales figures for its first quarter ended September 30.
Net sales were $554 million compared with the $449 million reported in the same period of the prior year. Net income rose 34% to $126 million compared with $94 million in the prior year.
Chairman and chief executive officer Lew Frankfort gave the continued rapid growth in the
The company estimates second fiscal quarter sales of approximately $785 million, representing a year-on-year increase of about 21%. For the fiscal year 2007 the company expects to generate sales of around $2.55 billion, an increase of 21% from the prior year.
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