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., the largest U.S. luxury-handbag maker, posted fourth-quarter earnings that exceeded analysts' estimates after new products helped stem a sales decline.
Excluding some items, earnings amounted to 31 cents a share, the New York-based company said Tuesday in a statement. Analysts had estimated 29 cents on average, according to data compiled by Bloomberg. Sales were $1 billion in the period, which ended June 27, topping the $972.9 million projection.
Chief Executive Officer Victor Luis is working to add new products that appeal to younger consumers and don't need to be discounted in order to sell. The company also is refreshing its stores and partnering with new designers to try to retake market share from competitors such as Kate Spade & Co.
The shares rose in early New York trading after the results were posted. The stock has slipped 19 percent this year through Monday’s close.
By Lindsey Rupp; editors: Nick Turner, Kevin Orland.
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.