News Brief
Coach: Sales Up On Social Media Efforts
Jan 20, 2010, 12:00 PM
More good news for marketers of luxury products: Coach says its second-quarter sales gained an impressive 11% to $960 million, while earnings for the period gained 12% to $241 million -- gains it says were fueled by comparable-store sales gains in North America.
"Our performance reflected continued traction of the initiatives we have put in place to adapt to the changed environment," CEO Lew Frankfort said in a statement. "Our customers embraced our innovative and relevant products and collections, while our focus on digital and social media delivered a more engaging brand experience for many consumers."
Revenues from new and existing stores increased by 16% in North America, while comparable store sales rose 3%, building steadily over the quarter.--Sarah Mahoney
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