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Coach reports higher earnings for Q2
24 Jan '06
5 min read
Frankfort continued, "Across all businesses, handbags and women's accessories continued to drive our business results. Our key item strategy was very successful, with the highlighted groups and collections generating over 60% of our holiday sales. Duffles and Gallery Totes were important handbag initiatives during the quarter and were very well received by consumers."
"Coach is enjoying a strong January, driven by the response to our transitional and early spring offerings. These introductions included gallery satchels, offered for the first time in Signature, and lightweight nylon fabriations with accent leather trims, as well as the new, playful "Poppy" collection of totes, demis and updated spring accessories," Mr. Frankfort added.
"We're also excited about our fresh interpretation of Soho and a new group of shoulder totes which just arrived in our stores. For March, our Hamptons Weekend collection will include a distinctive patchwork design and a new take on Hamptons Scribble."
"This spring, as planned, Coach will add about 15 more retail stores in the U.S., bringing the total to around 25 new retail stores in fiscal 2006. We will also be adding at least six new locations in Japan during the second half, for a full year total of at least 12 net new shops. New store openings planned in Japan this spring include the Kobe flagship, a 6,200 square foot store.
"We're extremely pleased with the vibrancy of the Coach brand. The consistency of our growth across geographies, channels and different consumer segments over multiple years illustrates the enormous opportunity still available to us. Our diversified and loyal customer franchise continues to grow while we obtain a larger share of her increasing accessory wardrobe. We're confident that our proven strategies will enable us to gain additional market share in the years ahead," Mr. Frankfort concluded.
"Coach is enjoying a strong January, driven by the response to our transitional and early spring offerings. These introductions included gallery satchels, offered for the first time in Signature, and lightweight nylon fabriations with accent leather trims, as well as the new, playful "Poppy" collection of totes, demis and updated spring accessories," Mr. Frankfort added.
"We're also excited about our fresh interpretation of Soho and a new group of shoulder totes which just arrived in our stores. For March, our Hamptons Weekend collection will include a distinctive patchwork design and a new take on Hamptons Scribble."
"This spring, as planned, Coach will add about 15 more retail stores in the U.S., bringing the total to around 25 new retail stores in fiscal 2006. We will also be adding at least six new locations in Japan during the second half, for a full year total of at least 12 net new shops. New store openings planned in Japan this spring include the Kobe flagship, a 6,200 square foot store.
"We're extremely pleased with the vibrancy of the Coach brand. The consistency of our growth across geographies, channels and different consumer segments over multiple years illustrates the enormous opportunity still available to us. Our diversified and loyal customer franchise continues to grow while we obtain a larger share of her increasing accessory wardrobe. We're confident that our proven strategies will enable us to gain additional market share in the years ahead," Mr. Frankfort concluded.
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