Home / Knowledge / News / Fashion / Gross profit rises 2.14% in Q2 FY16 at Coach
Gross profit rises 2.14% in Q2 FY16 at Coach
02
Feb '16
Coach Inc, a US based luxury fashion company, posted a rise of 2.14 per cent in its gross profit to $859 million in the second quarter ending on December 26, 2015, as compared to $841 million in the corresponding period last fiscal, according to a press statement released by the company.

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

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search