In addition, Coach raised guidance for fiscal 2006 and now estimates sales of nearly $2.1 billion for the year, an increase of about 22 percent. Operating income is expected to rise at least 25 percent to an operating margin of over 37 percent. Earnings per share are forecasted to rise to at least $1.24, ahead of the analysts' consensus of $1.21 for the year.
This guidance excludes the earnings impact from the implementation of accounting for share-based payments (Statement of Financial Accounting Standards No. 123R), which is currently required in the first quarter of fiscal year 2006.
Coach will host a conference call to review these results at 8:30 a.m. (EDT), August 2, 2005. Interested parties may listen to the webcast by accessing www.coach.com/investors on the Internet or dialing into 1-888-405-2080 and asking for the Coach earnings call led by Andrea Shaw Resnick, VP of Investor Relations. A telephone replay will be available starting at 12:00 noon today, for a period of five business days. The number to call is 1-866-352-7723. A webcast replay of the earnings conference call will also be available for five business days on the Coach website.
Leading American marketer Coach, which has headquarters in New York of fine accessories and gifts for women and men, including handbags, women's and men's small leathergoods, business cases, weekend and travel accessories, footwear, watches, outerwear, sunwear, and related accessories.
Coach is sold worldwide through Coach stores, select department stores and specialty stores, through the Coach catalogue in the U.S. by visiting website.
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