Coach powers ahead – with a little help from Gwyneth
Wednesday 25 April 2012
A taste for American leather handbags and shoes promoted by the actress Gwyneth Paltrow has helped Coach report a 21 per cent rise in net profits to $225m (£140m) on sales up 17 per cent to $1.1bn for the third quarter.
The brand, founded in New York in 1941, has been expanding worldwide and will open its third London store on Friday on Regent Street.
It has increased its dividend by 33 per cent and operating margin improved to 30.4 per cent from 29.4 per cent in last year's third quarter.
And it is not just women who are buying the brand – menswear sales are set to double to more than $400m for 2012.
Lew Frankfort, the chairman and chief executive, said: "We're pleased with the very strong top- and bottom-line performance. Our results demonstrated the brand's resonance across channels, categories and geographies."
- 1 Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
- 2 A politically correct lefty goes to see Top Gear live – you'll probably believe what happened next
- 3 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
- 4 Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
- 5 Snoop Dogg on why he doesn't regret displaying misogyny towards women
Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
Woman accidentally shoots herself in the head while posing for a selfie
How China's richest man Li Hejun lost $15bn in an hour - and made a fortune
Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Snoop Dogg on why he doesn't regret displaying misogyny towards women
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...