Coach Q4 profit soars 31%, raises guidance for FY07
01 Aug '06
4 min read
"While fiscal 2007 has just begun, our strong start bodes well for the year. We're confident that our proven growth strategies, built upon our leadership position, will continue to deliver excellent returns in the seasons ahead and over our planning horizon," Frankfort concluded.
Coach updated guidance for fiscal 2007 and now estimates sales of about $2.5 billion for the year, an increase of about 19%. Operating income is expected to rise over 20% with an operating margin of nearly 37%. Earnings per share are forecasted to rise to at least $1.55, up 22% from last year and ahead of the analysts' consensus of $1.53 for the year.
In addition, the company introduced its first fiscal quarter outlook, with sales targeted to be at about $535 million, an increase of at least 19%, and earnings per share projected to be about $0.30, a gain of about 25%. This compares to the consensus earnings estimate of $0.29 for the first quarter.
Coach Inc, with headquarters in New York, is a leading American marketer 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.
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