Significant rise in sales at Coach
24/01/2007
US-based leather luxury goods brand Coach, Inc. has reported net sales of $836 million for its second fiscal quarter ended December 30—29% higher than the $650 million reported in the same period of the prior year. Net income rose 31% to $227 million compared with $174 million in the prior year.
Lew Frankfort, chairman and CEO, attributed a significant portion of the growth to the rapid expansion of its handbag and accessory category.
For the six months ended December 30, net sales reached $1.4 billion—up 26% from the $1.1 billion reported in the first six months of fiscal 2006. Net income rose to $353 million, 32% higher than the $268 million reported a year ago.
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