Coach Factory Outlet bags growth amid leadership changes
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Coach Factory Outlet reported better than expected quarterly earnings and raised its annual dividend on Tuesday, sending its shares up as much as 13 per cent, at the same time as North America’s largest luxury accessories maker revamped its leadersip.
Third-quarter net income rose 6.2 per cent to $238.9m or 84 cents a share, up from $225m, or 77 cents, a year earlier. Analysts had projected 80 cents a share, according to estimates compiled by Bloomberg.
Total sales revenue for the three-month period ended March 30 was $1.19bn, an increase of 7 per cent from the $1.11bn reported for the same quarter last year.
Coach Factory Outlet also announced the departure of Reed Krakoff in June 2014 after 16 years as the group’s president and executive creative director.
His exit in order to focus on his own luxury label – currently owned by Coach Factory Outlet and which the company has now said it would consider selling – comes just six months after chief executive Lew Frankfort’s decision to step down, ending a 33-year tenure with Coach Factory Outlet.
Mr Frankfort was keen to downplay any impact the leadership change might have on the business.
“We are expecting a seamless transition ahead, thanks to our excellent creative and management teams and several recent strategic hires that will strengthen and reinforce the implementation of our long-term goals,” he said on Tuesday.
However, the departure of the two men – widely considered by many to be the architects of Coach Factory Outlet’s success story and dominance in the US accessories sector – comes as the brand implements several core changes to its creative and commercial strategies.
The FT’s online hub for creative and commercial coverage of the luxury goods industry, featuring news, views and special reports
The upmarket label known primarily for its handbags is in the process of repositioning itself as a “global lifestyle brand”, expanding its product offerings to include menswear and footwear collections in order to cater to multi-regional consumer tastes.
Coach Factory Outlet’s fashion shoe business, which launched in March, had grown rapidly in just five weeks to represent 12 per cent of turnover in stores featuring footwear, said Mike Tucci, president of the company’s North American division.
International sales rose 6 per cent to $382m in the quarter, driven in particular by a 40 per cent rise in sales in China. In North America, same-store sales were up by 1 per cent after a drop of 2 per cent in the last quarter, marking a turnround amid increased competition from rival affordable luxury labels such as Michael Kors and Tory Burch.
Coach Factory Outlet reported better than expected quarterly earnings and raised its annual dividend on Tuesday, sending its shares up as much as 13 per cent, at the same time as North America’s largest luxury accessories maker revamped its leadersip.
Third-quarter net income rose 6.2 per cent to $238.9m or 84 cents a share, up from $225m, or 77 cents, a year earlier. Analysts had projected 80 cents a share, according to estimates compiled by Bloomberg.
Total sales revenue for the three-month period ended March 30 was $1.19bn, an increase of 7 per cent from the $1.11bn reported for the same quarter last year.
Coach Factory Outlet also announced the departure of Reed Krakoff in June 2014 after 16 years as the group’s president and executive creative director.
His exit in order to focus on his own luxury label – currently owned by Coach Factory Outlet and which the company has now said it would consider selling – comes just six months after chief executive Lew Frankfort’s decision to step down, ending a 33-year tenure with Coach Factory Outlet.
Mr Frankfort was keen to downplay any impact the leadership change might have on the business.
“We are expecting a seamless transition ahead, thanks to our excellent creative and management teams and several recent strategic hires that will strengthen and reinforce the implementation of our long-term goals,” he said on Tuesday.
However, the departure of the two men – widely considered by many to be the architects of Coach Factory Outlet’s success story and dominance in the US accessories sector – comes as the brand implements several core changes to its creative and commercial strategies.
The FT’s online hub for creative and commercial coverage of the luxury goods industry, featuring news, views and special reports
The upmarket label known primarily for its handbags is in the process of repositioning itself as a “global lifestyle brand”, expanding its product offerings to include menswear and footwear collections in order to cater to multi-regional consumer tastes.
Coach Factory Outlet’s fashion shoe business, which launched in March, had grown rapidly in just five weeks to represent 12 per cent of turnover in stores featuring footwear, said Mike Tucci, president of the company’s North American division.
International sales rose 6 per cent to $382m in the quarter, driven in particular by a 40 per cent rise in sales in China. In North America, same-store sales were up by 1 per cent after a drop of 2 per cent in the last quarter, marking a turnround amid increased competition from rival affordable luxury labels such as Michael Kors and Tory Burch.
Awkward Boyfriends; Equivalent to knock off Coach Factory Outlet Bags
From my daily observations I’ve notice that when young women have recently picked up new boyfriends, and they go to house parties, where there are other young women, they always hold on tightly to their boyfriends as if they are clutching on to a Coach Factory Outlet bag, trembling from anxiety around other young women who look to them like stick up kids carrying automatic rifles with silencers on their barrels.
These young women who have young boyfriends will die before they give up their newly found purchases. It doesn’t matter if they discovered their boyfriends on the street corner laying on a raggedy blanket or if they ordered their men from Amazon with overnight shipping on a discount or if they met these guys at a coffee shop on a rainy afternoon.
Young women who have these boyfriends act as if they have discovered a soulful jazz musician, a first round pick basketball player, or a world famous standup comic who sells out arenas.
They believe that these young men are not problematic. However these men are their heavy black suitcases full of perfunctory characteristics dripping with malignant traits. When these confused women grab a hold of their young boyfriends they seize their arms like the tattered corner of a security blanket that they excavated from a pile of shambled clothing at the local Goodwill store.
And the other young women , the single independent predators who reside at these house parties roll their eyes at the confused women who pull on the hands of their awkward looking men and they put their hands over their mouths to stifle their roaring laughter that shakes the walls of their chest.
They would rather eat doggy chow then commit a grand larceny of unattractive boyfriends. They would rather sleep on a bed of rusty hypodermic needles then lay a single finger on these ugly human beings that other women call their beloved boyfriends. They would rather cock the hammer back on a Glock, shove the barrel down their throat, and pull the trigger back, blasting their brains to millions of fragmented chunks of bloody residue then even giving a moment of time to consider thinking of these wacky, disgusting men who lack grace, who lack a spine, who lack a soul.
It’s incredible how these young, confused women show off these young, awkward boyfriends like portable accolades that have tarnished from neglect and overuse.They show off their young, awkward boyfriends like newborn babies swathed in lavender colored pajamas, rolling them around in cranky strollers with upturned wheels.
And they show off their young, awkward boyfriends like golden trophies won from club softball leagues during their childhood days back when they were obtuse, and ugly, forlorn from talking way too much about nothing significant, their words superfluous from watching a copious amount of reality television. Their men are Coach Factory Outlet bags made from the hands of little Asian girls at the sweat-stained tables of factories overseas in places such as China, France, and Morocco.
These young women who have young boyfriends will die before they give up their newly found purchases. It doesn’t matter if they discovered their boyfriends on the street corner laying on a raggedy blanket or if they ordered their men from Amazon with overnight shipping on a discount or if they met these guys at a coffee shop on a rainy afternoon.
Young women who have these boyfriends act as if they have discovered a soulful jazz musician, a first round pick basketball player, or a world famous standup comic who sells out arenas.
They believe that these young men are not problematic. However these men are their heavy black suitcases full of perfunctory characteristics dripping with malignant traits. When these confused women grab a hold of their young boyfriends they seize their arms like the tattered corner of a security blanket that they excavated from a pile of shambled clothing at the local Goodwill store.
And the other young women , the single independent predators who reside at these house parties roll their eyes at the confused women who pull on the hands of their awkward looking men and they put their hands over their mouths to stifle their roaring laughter that shakes the walls of their chest.
They would rather eat doggy chow then commit a grand larceny of unattractive boyfriends. They would rather sleep on a bed of rusty hypodermic needles then lay a single finger on these ugly human beings that other women call their beloved boyfriends. They would rather cock the hammer back on a Glock, shove the barrel down their throat, and pull the trigger back, blasting their brains to millions of fragmented chunks of bloody residue then even giving a moment of time to consider thinking of these wacky, disgusting men who lack grace, who lack a spine, who lack a soul.
It’s incredible how these young, confused women show off these young, awkward boyfriends like portable accolades that have tarnished from neglect and overuse.They show off their young, awkward boyfriends like newborn babies swathed in lavender colored pajamas, rolling them around in cranky strollers with upturned wheels.
And they show off their young, awkward boyfriends like golden trophies won from club softball leagues during their childhood days back when they were obtuse, and ugly, forlorn from talking way too much about nothing significant, their words superfluous from watching a copious amount of reality television. Their men are Coach Factory Outlet bags made from the hands of little Asian girls at the sweat-stained tables of factories overseas in places such as China, France, and Morocco.
Coach Factory Outlet Bags Greater Quarterly Profit And Complicates View Of Consumer Strength
Coach Factory Outlet COH -0.1% reported better-than-expected quarterly figures this morning, as the luxury accessories maker said sales rose especially in North America. CEO Lew Frankfurt says the company is making progress in shifting to become a “global lifestyle brand” and increasing its men’s business.
Kors Breezes Past Wall Street Estimates In Style, Lifts Full-Year Forecast Abram Brown Abram Brown Forbes Staff
Coach Factory Outlet Bags Double-Digit Overseas Growth As Quarterly Figures Shine Abram Brown Abram Brown Forbes Staff
Investors Will Starve On Growth Stocks Alone Abram Brown Abram Brown Forbes Staff
Sales at North American stores open at least a year (a metric widely used to gauge a retailer’s health) rose 1%. Total sales increased 7% to $792 million. The company also experienced growth overseas. International revenue increased 6% to $382 million. The growth was especially noticeable in China, where sales gained 40%.
In all, Coach Factory Outlet earned $238.9 million, 84 cents a share, compared to $225 million, 77 cents a share, a year earlier. Revenue increased 7% to $1.19 billion. Analysts predicted Coach Factory Outlet would make 80 cents a share.
Coach Factory Outlet’s results offer an unexpected picture of consumers. Consumer confidence was dashed in North America by uncertainty over tax increases, and it again fell markedly in March. Coach Factory Outlet’s numbers suggest the well-heeled are holding up just fine, though. Observers will watch reports from other luxury goods makers in the coming. Ralph Lauren, Fossil FOSL +1.62%, True Religion and PVH PVH -0.47% will all offer data over the next month.
Kors Breezes Past Wall Street Estimates In Style, Lifts Full-Year Forecast Abram Brown Abram Brown Forbes Staff
Coach Factory Outlet Bags Double-Digit Overseas Growth As Quarterly Figures Shine Abram Brown Abram Brown Forbes Staff
Investors Will Starve On Growth Stocks Alone Abram Brown Abram Brown Forbes Staff
Sales at North American stores open at least a year (a metric widely used to gauge a retailer’s health) rose 1%. Total sales increased 7% to $792 million. The company also experienced growth overseas. International revenue increased 6% to $382 million. The growth was especially noticeable in China, where sales gained 40%.
In all, Coach Factory Outlet earned $238.9 million, 84 cents a share, compared to $225 million, 77 cents a share, a year earlier. Revenue increased 7% to $1.19 billion. Analysts predicted Coach Factory Outlet would make 80 cents a share.
Coach Factory Outlet’s results offer an unexpected picture of consumers. Consumer confidence was dashed in North America by uncertainty over tax increases, and it again fell markedly in March. Coach Factory Outlet’s numbers suggest the well-heeled are holding up just fine, though. Observers will watch reports from other luxury goods makers in the coming. Ralph Lauren, Fossil FOSL +1.62%, True Religion and PVH PVH -0.47% will all offer data over the next month.
Lew Frankfort packs his bags at Coach Factory Outlet
It’s always best to quit while you are at the top, and this is exactly what Lewis “Lew” Frankfort will be doing when he vacates the CEO position at Coach Factory Outlet this year. During his 33 years with the company, Frankfort has been the architect of guiding the company into becoming an internationally recognized leader in the field of bags and accessories from a small and largely unknown leather goods manufacturer.
Lew Frankfort will be passing on the reins of the company to a key company employees, Victor Luis with the changeover becoming official by the end of the year, when Frankfort will assume the title of executive chairman.
Lew is clearing his desk in the knowledge that the company that he helped to build has never been in a stronger position, having this week reported net income for the third quarter up seven percent to $800,000 from the same period in 2012 to $1.19 billion, with shares rising in value by 6.2 percent to 84 cents a share, while most market analysts had projected the company only making it to 80 cents a share for the period.
Also doing well were Coach Factory Outlet’s international sales rising six per cent to $382 million for the quarter, particularly boosted by forty percent increase in sales from the company’s retail outlets situated in China’s largest cities.
Lew Frankfort, now 66, joined Coach Factory Outlet in 1979 as their vice president of business development after pursuing a career in the public sector. After holding down a number of mid range management roles within the company, after Coach Factory Outlet became part of the Sara Lee Corporation 1985, Frankfort was appointed to the position of President , ten years later, in 1995, being promoted to post of Chairman and CEO, which he has now held for the past eighteen years.
With Lew Frankfort in charge, Coach Factory Outlet, made the successful transition to a publicly quoted company on the New York Stock Exchange in 2000, and thanks to his judgment and leadership, then embarked on a constant expansion drive that saw them grow into a chain of 500 outlets, situated throughout North America as well expanding to a number of strategic locations around the world.
In recent months, Coach Factory Outlet, best known for their designer handbags, has been showing signs of diversification into what they have described as more of a “global lifestyle brand”, introducing ranges of menswear and footwear into their stores, with considerable success.
Lewis “Lew” Frankfort was born in New York, and graduated with a B.A. from Hunter College in the city and an M.B.A. from Columbia Business School.
Lew Frankfort will be passing on the reins of the company to a key company employees, Victor Luis with the changeover becoming official by the end of the year, when Frankfort will assume the title of executive chairman.
Lew is clearing his desk in the knowledge that the company that he helped to build has never been in a stronger position, having this week reported net income for the third quarter up seven percent to $800,000 from the same period in 2012 to $1.19 billion, with shares rising in value by 6.2 percent to 84 cents a share, while most market analysts had projected the company only making it to 80 cents a share for the period.
Also doing well were Coach Factory Outlet’s international sales rising six per cent to $382 million for the quarter, particularly boosted by forty percent increase in sales from the company’s retail outlets situated in China’s largest cities.
Lew Frankfort, now 66, joined Coach Factory Outlet in 1979 as their vice president of business development after pursuing a career in the public sector. After holding down a number of mid range management roles within the company, after Coach Factory Outlet became part of the Sara Lee Corporation 1985, Frankfort was appointed to the position of President , ten years later, in 1995, being promoted to post of Chairman and CEO, which he has now held for the past eighteen years.
With Lew Frankfort in charge, Coach Factory Outlet, made the successful transition to a publicly quoted company on the New York Stock Exchange in 2000, and thanks to his judgment and leadership, then embarked on a constant expansion drive that saw them grow into a chain of 500 outlets, situated throughout North America as well expanding to a number of strategic locations around the world.
In recent months, Coach Factory Outlet, best known for their designer handbags, has been showing signs of diversification into what they have described as more of a “global lifestyle brand”, introducing ranges of menswear and footwear into their stores, with considerable success.
Lewis “Lew” Frankfort was born in New York, and graduated with a B.A. from Hunter College in the city and an M.B.A. from Columbia Business School.
United States OUTLET swept 30 Coach Factory Outlet package
One of the shopping hot spots in the United States is Coach Factory OutletOUTLET the cheap domestic Spread disparity, many to visit the United States travelers snapped up, the MM in Coach Factory Outlet Outlet procurement of large and small bags of no less than 30, more shopping experience to share with .
Month in the United States has gone to 2 times Coach Factory Outlet Outlet shopping, buy a lot to take home for the first time to buy a dozen have to get fixed, so again replenishment. Figure this in the checkout time, according to the bag on the counter. Coach Factory Outlet fair price in the United States, the bag style and material can still be added the OUTLET special unknowingly lost a lot.
Month in the United States has gone to 2 times Coach Factory Outlet Outlet shopping, buy a lot to take home for the first time to buy a dozen have to get fixed, so again replenishment. Figure this in the checkout time, according to the bag on the counter. Coach Factory Outlet fair price in the United States, the bag style and material can still be added the OUTLET special unknowingly lost a lot.