coach inc (COH) Key Developments
LVMH May Not Buy Coach
Dec 11 14
LVMH Moet Hennessy Louis Vuitton SA (ENXTPA:MC) is not likely interested in Coach, Inc. (NYSE:COH).
Coach Reportedly Eyes Stuart Weitzman
Dec 2 14
Coach, Inc. (NYSE:COH) is among a small list of bidders vying to acquire Stuart Weitzman Holdings, LLC, in a deal that is likely to be agreed before the end of 2014, reported Financial Times citing people familiar with the matter. According to the people, Coach faces competition from Brown Shoe Co. Inc. (NYSE:BWS) and at least one private equity buyer to acquire Stuart Weitzman. The people added that final bids for Stuart Weitzman are due in mid-December 2014, and are expected to value the company at between $600 million and $700 million. Coach and Brown Shoe Company did not immediately return requests for comment from Financial Times.
Coach, Inc. Declares Quarterly Dividend, Payable on December 29, 2014
Nov 13 14
Coach, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.3375 per common share. The dividend is payable on December 29, 2014 to shareholders of record as of the close of business on December 5, 2014.
Coach, Inc. Plans to Open New Stores
Oct 28 14
Coach, Inc. planed to open about 20 stores and could have about 10 closures resulting in around 10 net openings in China. While The company expects to open a few stores in other Asia direct markets outside of China and Japan in fiscal year 2015.
Coach, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended September 27, 2014
Oct 28 14
Coach, Inc. reported unaudited consolidated earnings results for the first quarter ended September 27, 2014. For the quarter, the company reported sales of $1.04 billion compared with $1.15 billion reported in the same period of the prior year, a decrease of 10%. Net income totaled $146 million, with earnings per diluted share of $0.53, excluding transformation-related charges. Reported net income totaled $119 million, with earnings per basic and diluted share of $0.43. This compared to net income of $218 million and earnings per basic and diluted share of $0.77 in the prior year's first quarter. Non-GAAP operating income totaled $217 million, compared to $322 million reported in the year-ago period. Operating income was $179.8 million compared to $321.6 million a year ago. Income before provision for income taxes was $180.5 million compared to $323.3 million a year ago. Non-GAAP income before provision for income taxes was $217.6 million compared to $323.3 million a year ago.