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Improved margins and holiday sales boost Coach profits

17/01/2003

 

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 US department store activity and new store openings and comparable location increases in Japan.

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