12605 224th Avenue
Benet Lake, WI 53102
Recently, the U.S. luxury brand Coach ( NYSE Stock Code COH; 06388, HK) announced fiscal 2014 third quarter earnings, as of the third quarter sales March 29, 2014 was $ 1.1 billion , compared to the same period last year fell 7 percent $ 1.19 billion . Reported net income for the quarter fell 20.2% to $ 191 million , diluted earnings per share were $ 0.68 , while a year earlier net profit of $ 239 million , diluted earnings per share were $ 0.84 . Sales in North America fell 18% Notably , Coach performance downturn in North America , as the company's largest market , total sales for the third quarter in North America fell 18 percent from $ 792 million for the same period last year fell to $ 648 million , while same-store sales were down 21%. Coach CEO VictorLuis , said third -quarter business performance Coach handbags and accessories in the North American market continued to be weak , offsetting strong growth in men's footwear products and service and excellent sales performance in Asia and Europe operations. " During the period, our business in North America is still a challenge , significantly reduced store traffic . Meanwhile , e-commerce performancecancel activities in cooperation with third parties and invite customers to participate in the strategic decision to limit Rates of factory direct shop affected . " Investment Advisor in the light researcher Xiong Xiaokun to the "Daily Economic News" reporter , said , Coach positioning light luxury, the luxury goods market is facing down in the downward trend it can not be immune , together with other groups and brands to enter the competition , market share erosion . "However, sales of accessories and footwear men increased, indicating that there is still room for development of business , the company will increase investment ." VictorLuis said , "While in North America , handbags and accessories business performance is not satisfactory, but we are still on the brand 's vision , leadership team and execution capabilities to maintain confidence in the current strategy ." China market sales by more than 25% It is worth noting that, as a designer brand MichaelKorsHoldingsLtd. (NYSE: KORS) in the third quarter of fiscal 2014 ended December 28, 2013 , the North American revenue grew 50.51 percent to $ 862.6 million , in 2013 - 2014 fiscal revenue for the fourth quarter will exceed revenues in the third quarter over the same period Coach . In Xiong Xiaokun seems , MichaelKors description reciprocal relationship with Coach redrawing market structure , market share is more often MichaelKors possession , Coach in the North American market is facing serious challenges.
Designed, Hosted and Maintained by DataMine Internet Marketing Solutions