Coach Inc., an American luxury fashion company, has reported that its quarterly sales surged for the first time in 10 quarters. Acquisition of luxury shoe brand Stuart Weitzman for US $ 574 million last year and robust demand in Europe and China are touted to be the reasons behind surge in sales. Besides, its net sales rose 4.5 per cent to US $ 1.273 billion.
The handbag maker noted that demand for boots in the United States helped the brand post sales of US $ 94 million in the period under review. Furthermore, sales from international markets zoomed 4 per cent to US $ 437 million in the second quarter ended on December 26.
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The company has now raised its sales forecast for Stuart Weitzman by US $ 5 million to US $ 340 million for the current year. However, sales at established stores for the brand in North America dived 4 per cent. Its net income plunged 7.3 per cent to US $ 170.1 million, or 61 cents per share.
Based in New York, Coach Inc. is known for accessories and gifts for women and men, including handbags, men’s bags, women’s and men’s small leather goods, footwear, outerwear, ready-to-wear, scarves, sunwear, and other accessories.
