>>
Home / Knowledge / News / Fashion / Coach reports higher earnings for Q2

Coach reports higher earnings for Q2

24
Jan '06
Coach Inc, a leading marketer of modern classic American accessories, has announced an increase of 36 percent in earnings per diluted share before option expense to $0.47 for its second fiscal quarter ended December 31, 2005, up from $0.34 per diluted share a year ago.

In the second quarter, net sales were $650 million, 22 percent higher than the $532 million reported in the same period of the prior year. Net income before option expense rose 36 percent to $183 million, compared with $134 million in the prior year.

Including the impact of stock option expense, net income rose 37 percent to $174 million, or $0.45 per diluted share, compared with $127 million or $0.32 per share in the prior year.

Lew Frankfort, Chairman and Chief Executive Officer of Coach Inc, said, "Our excellent second quarter performance continues to reflect the strength of the Coach franchise, our position as a gift authority and the vibrancy of the U.S. handbag and accessory category. This strength was evidenced throughout all channels of our business and across all geographies, as consumers enthusiastically embraced our holiday assortment. Our profitability improvement highlights our ability to achieve further gross margin expansion and to leverage our expenses as our sales base increases."

During the quarter, gross profit rose 25 percent to $505 million from $403 million a year ago.

Gross margin expanded by 180 basis points from 75.8 percent to 77.6 percent, due to sourcing cost benefits and product mix shifts. SG&A expenses as a percentage of net sales before option expense declined 60 basis points to 33.2 percent, compared to the 33.8 percent reported in the year-ago quarter. Including option expense in both periods, SG&A expenses declined 50 basis points to 35.5 percent of sales from 36 percent in the prior year's second quarter.


Must ReadView All

Pic: Shutterstock.com

Textiles | On 24th Jan 2022

World economy to lose $12.5 trn in output by 2024 due to COVID: IMF

The world economy will lose $12.5 trillion in output by 2024 due to...

Pic: Karin59 | Dreamstime.com

Textiles | On 24th Jan 2022

Investor confidence in Germany rises in Jan despite supply crunch

Investor confidence in Germany rose in January, say recent figures,...

Pic: Nikolay Antonov | Dreamstime.com

Textiles | On 24th Jan 2022

People's Bank of China cuts benchmark lending rates

China’s central bank has cut the benchmark lending rate of loan prime ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Led by MMF, Indian apparel exports likely to double in next 3 years

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Atul Ganatra,

Atul Ganatra

<div>Engaged in providing a wide range of services to the entire cotton...

Mohammad Ali Khokon,

Mohammad Ali Khokon

<div>The Bangladesh Textile Mills Association (BTMA) is the national trade ...

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Dr. Sean Blamires, Evolution and Ecology Research Centre

Dr. Sean Blamires
Evolution and Ecology Research Centre

Using spider silk for clothing may not seem to be an attractive...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Bav Tailor, Label Bav Tailor

Bav Tailor
Label Bav Tailor

Born in London and Indian by origin, <b>Bav Tailor </b>is the Founder of...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

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

Leave your Comments

ESTEEMED CLIENTS

Groz-Beckert East Asia LLP
Lacoste (Wanchai)
Grasim Industries Limited
NITI Aayog
Gatsby Africa
Lululemon Athletica Inc
IKEA of Sweden AB
Target Corporation (MN)
Phong Phu international JSC (PPJ)
Gap International Sourcing Limited
Sateri (Jiujiang) Fiber Co.,Ltd
Seasalt Limited
SYNERGIES HONG KONG LIMITED
Vianney Textil Hogar S.A. De C.V.
Arvind Limited
PVH Corporation
John Varvatos
Hirdaramani International Export Private Limited
Restoque S.A.
Desigual - ABASIC, S.A.
Walmart
Under Armour Global Sourcing Ltd
MAS Active / MAS Kreeda / MAS Bodyline
Bluestem Global Sourcing Limited
Guess Europe Sagl,
International Textile Manufacturers Federation
T.T. Limited
Lisa S.P.A.
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Esprit Europe Services GmbH
Tchibo GmbH
Recron Polyester from Reliance Industries Limited
Calvin Klein
Lifestyle
Amazon China
Huntsman (Singapore) Pte Ltd
Midas Clothing Limited
Page Industries Limited (Bangalore)
Varner AS Retail
IDH – The Sustainable Trade Initiative
Aquarelle Clothing Limited
BIANCA
Reiter India Private Limited
Lenzing Aktiengesellschaft
Abit
Cat Tuong Real Estate Group Joint Stock Company
Brandix Lanka Limited
Truetzschler India Private Limited
Alix Partners
Permoda(Koaj/Armi/Pronto/Bkul)
Rosset ;& Cia Limited
Eastman Chemical Company
Sainsbury's Argos Asia Limited
Rayonese Textile Inc., Division de Culp Inc.
Sportmaster Ltd.
KIABI
TESCO INTERNATIONAL SOURCING LIMITED
Gloria Jeans
Vardhman Textile Ltd
Boardriders Asia Sourcing Limited
Sportswear Company Spa
Puma
Babyshop
Landmark Group
Tommy Hilfiger
OVS Hong Kong Sourcing Ltd.
Alison Hayes Romania
THE BOMBAY DYEING ;& MFG.CO. LTD
Hela Clothing Pvt Ltd
Green Fibre
Helly Hansen Far East Ltd
Aramark Uniform ;& Career Apparel, LLC
G-Star Raw C.V.
Asos
KAS Direct Sourcing
J ;& P Coats
The LYCRA Company Singapore  Pte. Ltd
Chori Company Limited
H;&M Hennes ;& Mauritz (Far East) Ltd
Chico’ FAS
Tory Burch Hong Kong Ltd
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
SHAHI Exports Pvt Ltd
C;&A Sourcing International Ltd
Gokaldas Exports Limited
Splash
The Top Form Brassiere Manufacturing Company Limited
LC Waikiki
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
BIMBA ;& LOLA SL

January 2022

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


Advanced Search