The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Financial Markets

Coach Tops Third Quarter Profit Forecasts

Coach Inc on Tuesday reported fiscal third-quarter profit of $122.2 million.

Coach Autumn/Winter 2017 | Source: Indigital.tv

Associated Press

02 May 2017

NEW YORK, United States — Coach Inc on Tuesday reported fiscal third-quarter profit of $122.2 million.

On a per-share basis, the New York-based company said it had net income of 43 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 46 cents per share.

The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The luxury handbag maker posted revenue of $995.2 million in the period, which did not meet Street forecasts. Nine analysts surveyed by Zacks expected $1.02 billion.

Coach shares have increased 11 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 7 percent. The stock has dropped nearly 4 percent in the last 12 months.

In This Article

Topics

Financial Markets

Organisations

Coach

Location

New York, United States

The Best of BoF 2023: Diversity’s Litmus Test

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.

The Year Ahead: The Future of Fashion Deal-Making

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.

Birkenstock Could Break Fashion’s IPO Logjam

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.

The Investment Giant Behind Some of Fashion’s Biggest Deals

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.