Gross margin for this quarter was 67.4 per cent as compared to 69 per cent in Q2 of FY15 at Coach.
The company posted a net income of $188 million in Q2 of fiscal 2015 on a non GAAP basis, while net income for the prior year period was $200 million. Earnings per diluted share was $0.68 in this quarter as compared to $0.72 in the previous quarter.
It posted a rise of 4 per cent in its net sales to $1.27 billion in this period as compared to $1.22 billion in the previous fiscal. Sales increased by 7 per cent in this period on a constant currency basis.
Commenting on the results, Victor Luis, CEO of Coach said, “We are very pleased with our second quarter performance, which was consistent with our expectations and reflected the most significant progress to date on our transformation plan despite the difficult retail environment globally.”
“Our results continue to give us confidence that the cumulative impact of our actions will result in a return to top line growth this fiscal year and positive North American comps by our fourth quarter,” he added.
The company is maintaining its fiscal 2016 constant currency revenue growth and operating margin guidance for the Coach brand, while raising its consolidated operating income outlook based on second quarter results. (MCJ)
Fibre2Fashion News Desk – India
Apparel/Garments | On 23rd Jun 2017
Alfredo Grassi, manufacturer of customised protective clothing,...
Textiles | On 22nd Jun 2017
Zund Systemtechnik AG, Switzerland’s textile machinery firm that...
Apparel/Garments | On 22nd Jun 2017
Napapijri has introduced the new Superlight Parka, a new lightweight...
Marazban F Velati
Sutlej Textiles & Industries limited
No training can be effective till the candidate believes in it.
‘New vendor is welcome if he offers cost, quality and timely delivery’
Shri Dinesh Mills Limited
Broad range of fabrics will sell well this financial year
About one in every 20 patients picks up an infection while hospitalised....
Iago Castro Asensio
RCfil Distribuciones S.L.
Iago Castro Asensio, International Business Manager of RCfil...
InvestKonsult Sweden AB
Investkonsult Sweden AB has been buying and selling second-hand textile...
Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...
<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...
Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...