News Brief
Best Of The Bags: Coach Quarterly Results Soar
Apr 25, 2007, 5:00 AM
Proving that it is still king of the luxury handbag category, Coach Inc. posted a 50% jump in quarterly earnings, above Wall Street expectations. And net sales rose 30%. to $625 million.
In the U.S., same-stores sales jumped by 20%, marking the 20th consecutive quarter of double-digit sales increases.
The company says its Legacy line is continuing to be a strong performer, and that "throughout all channels of our business and across all geographies, consumers enthusiastically embraced our transitional and spring assortments, driving our top-line results."
Direct-to-consumer sales increased 29%, to $481 million from $374 million last year.
--Sarah Mahoney
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