Victor Luis, Chief Executive Officer of Coach, Inc., said, “We are pleased with our first quarter performance, which was consistent with our plan and reflected continued progress on our transformation journey. We drove further sequential improvement in our North America bricks and mortar business – led, as expected, by our retail stores – with this momentum continuing into the second quarter. Our international businesses posted moderate growth on a constant currency basis, highlighted by double-digit increases in Europeand Mainland China, as well as sales gains in Japan. Overall, our results underscore our confidence that the cumulative impact of our actions will result in a return to top line growth in FY16 and positive North American comps by the end of the year.”
“Importantly, we continued to successfully execute our brand transformation strategies across our three key brand pillars: product, stores and marketing in the quarter. Stuart Vevers’s new product – notably the Ace and Nomad handbags in retail and Blake in outlet – have been very well received by customers across geographies. Our Modern Luxury stores globally and across channels are performing well, and we’re especially pleased with the ongoing positive comps we’re generating in the North American retail stores which have been renovated, as we anniversary the delivery of Stuart’s first collection. And we hosted our first true runway show during New York Fashion Week, receiving great editorial reviews, while kicking off our 75th anniversary year celebrations.” said Victor Luis.
Overview of First Quarter 2016 Consolidated, Coach, Inc. Results:
Stuart Weitzman First Quarter of 2016 Results:
(Featured Image: Coach bag and Chloe Grace Moretz)
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