The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Coach Inc. on Tuesday reported fiscal third-quarter net income of $112.5 million.
On a per-share basis, the New York-based company said it had profit of 40 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 44 cents per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The luxury handbag maker posted revenue of $1.03 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $1.02 billion.
Coach shares have risen 23 percent since the beginning of the year, while the Standard & Poor's 500 index has increased two percent. The stock has declined five percent in the last 12 months.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.