Coach 2nd-Half Net Sales Rise to $2.30 Billion From $2.26 Billion Year Ago
February 04 2016 - 12:23AM
Dow Jones News
By Anjie Zheng
HONG KONG--Leather-goods company Coach Inc. (COH) said Thursday
its net sales for the six months ended December rose to $2.30
billion from $2.26 billion a year ago.
The New York-listed company, which has depositary receipts
traded in Hong Kong, said its earnings in the second half were
buoyed by a positive contribution from the Stuart Weitzman
brand.
Sales in North America in the period declined 8.9% because of
net store closings and lower wholesale sales, Coach said. Net sales
in Europe grew by $28.9 million and in Greater China by $11.4
million, the company said. Coach attributed gains to store openings
and positive store sales in mainland China.
Operating income in the second half was $402.4 million, down
from $455.2 million, partly because of pretax charges and
administrative expenses.
Write to Anjie Zheng at anjie.zheng@wsj.com
(END) Dow Jones Newswires
February 04, 2016 00:08 ET (05:08 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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