Home / Knowledge / News / Fashion / Coach reaffirms FY08 guidance at $2.06

Coach reaffirms FY08 guidance at $2.06

23
Apr '08
Coach Inc, a leading marketer of modern classic American accessories, announced an increase of 19% in earnings per diluted share to $0.46 for its third fiscal quarter ended March 29, 2008, up from $0.39 per diluted share a year ago. This substantial increase in earnings from the prior year's third quarter reflected a 19% gain in net sales.

In the third quarter, net sales were $745 million compared with the $625 million reported in the same period of the prior year. Net income rose 10% to $162 million, or $0.46 per diluted share, compared with $147 million, or $0.39 per diluted share in the prior year.

For the quarter, operating income totaled $257 million, up 13% from the $227 million reported in the comparable year ago period, while operating margin was 34.5% versus 36.2% reported for the prior year. During the quarter, gross profit rose 15% to $558 million from $486 million a year ago.

Gross margin was 75.0% versus 77.8% a year ago, impacted primarily by the sharp rise of the yen over the period, and, as expected, by both the continued promotional environment and channel mix. SG&A expenses as a percentage of net sales improved by 100 basis points to 40.5%, compared to the 41.5% reported in the year-ago quarter, as the company was able to leverage expenses – notably selling and distribution costs - on the higher sales base.

On a constant-exchange-rate basis, excluding the positive currency effect from translating foreign-denominated sales in U.S. dollars, net sales increased 16% in the third quarter. On the same basis, operating income rose 17%.


Must ReadView All

Pic: Shutterstock

Textiles | On 21st Jan 2021

Vietnam's garment-textile sector eyes $39 bn in exports

Vietnam's garment-textile sector has set a target of $39 billion in...

Pic: Shutterstock

Fashion | On 21st Jan 2021

Mila Fashion to open apparel plant in Sri Lanka's Welioya

US-based Mila Fashion, part of the Design Studio Group, recently...

Pic: Citi Trends

Retail | On 21st Jan 2021

Citi Trends to open 100 new stores by fiscal 2023-end

Citi Trends, Inc, a US-based value-priced retailer of fashion...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Sonia Agarwal, Whitenife

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Cyril Pereira, Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Wesly Clements,

Wesly Clements

US-based Baldwin Technology Company is a global manufacturer and supplier...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Spring Chang,

Spring Chang

A specialist in manufacturing printing machines, <b>Wenzhou Changs</b>...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

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

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


January 2021

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


Advanced Search