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Coach Inc (COH.N)

COH.N on New York Stock Exchange

39.47USD
18 Oct 2017
Change (% chg)

$-0.17 (-0.43%)
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Latest Key Developments (Source: Significant Developments)

Coach Inc to change its name to Tapestry Inc
Wednesday, 11 Oct 2017 09:15am EDT 

Oct 11 (Reuters) - Coach Inc :Coach, Inc. to change its name to Tapestry, Inc..Coach Inc - ‍announced that it will be changing its name to Tapestry Inc effective October 31​.Coach Inc - co's common stock, traded on new york stock exchange under symbol COH, will change to TPR on October 31​.  Full Article

Coach expects to open 20-25 net Kate Spade stores in FY18, mainly in outlet channel
Tuesday, 15 Aug 2017 10:36am EDT 

Aug 15 (Reuters) - Coach Inc :CEO on Conf call- Q4 sales in Japan decreased due to fewer Chinese tourists and as company continues to cut down on distribution.CEO-Will continue to cut down on flash sales and reduce wholesale distribution for Kate Spade in line with coach's overall strategy.CFO-With change in reporting segments according to brand, co will start providing global brand comparable sales from fiscal 2018.CEO- full-price stores are suffering more from traffic declines than the outlet channel.CFO- achieved cost reductions in Q4, but wasn't enough to offset the ongoing promotional activity, which hurt Q4 gross margins.CFO- in Q4 we saw an uptick in demand for logo products; co was a bit behind on that trend in quarter.Coach inc- in q1 , operating income will decline due to calendar shifts, FX headwinds; gross margins are expected to see lower pressure than that in Q4.Coach inc- Coach brand will have modest gross margin expansion, Kate Spade will have upto 200 basis point impact for the year.Coach-Expect Pretax charges of $150-200 million in fy18 , with about $35 million non cash due to costs related to Kate Spade integration, store closure costs.Coach-Expect 50 net closures globally for coach brand with closures in North America, Japan partially offset by openings in Europe and mainland China.Coach-Expect 20-25 net openings globally for Kate Spade, with majority of store growth coming in outlet channel in fiscal 2018.  Full Article

Coach Inc Q4 earnings per share $0.53
Tuesday, 15 Aug 2017 06:45am EDT 

Aug 15 (Reuters) - Coach Inc :Coach Inc reports fiscal 2017 fourth quarter and full year results.Q4 earnings per share $0.53.Q4 sales $1.13 billion versus I/B/E/S view $1.15 billion.Q4 earnings per share view $0.49 -- Thomson Reuters I/B/E/S.Sees FY 2018 revenue up about 30 percent.Sees FY 2018 revenue $5.8 billion to $5.9 billion.Q4 non-GAAP earnings per share $0.50.Qtrly ‍total North American Coach brand sales were $586 million versus $606 million last year​.Qtrly ‍international coach brand sales were $442 million as compared to $450 million last year​.On a 13-week versus 13-week basis, total North American Coach brand sales increased 4% over prior year​.Qtrly Greater China sales increased 3% versus prior year in dollars and 7% in constant currency on a 13-week basis​.Qtrly North American aggregate and bricks and mortar comparable store sales rose approximately 4%​.Announced that its board of directors declared a quarterly cash dividend of $0.3375 per common share​.During fourth fiscal quarter of 2017, company recorded non-cash impairment charges related to stores​.During Q4, recorded negotiated reduction in purchase commitment which increased SG&A expenses by $20 million on both a reported and non-GAAP basis​.For fiscal 2018, co ‍is projecting earnings per diluted share in range of $2.35-$2.40.FY2018 earnings per share view $2.49, revenue view $6.04 billion -- Thomson Reuters I/B/E/S.  Full Article

Coach says ‍craig Leavitt CEO of Kate Spade & Co will be leaving - SEC Filing​
Thursday, 27 Jul 2017 05:26pm EDT 

July 27 (Reuters) - Coach Inc :Coach Inc - ‍Craig A. Leavitt, chief executive officer of Kate Spade & Company will be leaving - SEC Filing​.Coach Inc - ‍Victor Luis, company's chief executive officer, will lead Kate Spade & Company business in interim​.Coach Inc - Company has initiated a search for Craig Leavitt's successor.  Full Article

Coach announces extension of tender offer to buy Kate Spade & Co
Friday, 23 Jun 2017 06:40am EDT 

June 23 (Reuters) - Coach Inc ::Coach Inc announces extension of tender offer to acquire Kate Spade & Company.Coach Inc announces extension of tender offer to acquire Kate Spade & Company.Coach - offer extended to allow extra time for expiration of waiting period under Japanese act on prohibition of private monopolization, maintenance of fair trade.Coach Inc - tender offer to purchase all of outstanding shares of common stock, of Kate Spade until New York City time, on July 10, 2017.  Full Article

Coach prices $1 bln of senior unsecured notes
Tuesday, 6 Jun 2017 05:42pm EDT 

June 6 (Reuters) - Coach Inc ::Coach Inc. prices $1 billion of senior unsecured notes.Coach Inc. prices $1 billion of senior unsecured notes.Coach - ‍pricing of senior unsecured notes for amount of $1 billion, consisting $400 million amount of 3.000 pct senior unsecured notes due 2022​.Coach Inc - pricing also consisted ‍$600 million aggregate principal amount of 4.125 pct senior unsecured notes due 2027​.  Full Article

Coach plans to use borrowings under term loan facilities to fund, in part, purchase price of planned acquisition of Kate Spade
Wednesday, 31 May 2017 06:43am EDT 

May 31 (Reuters) - Coach Inc ::On May 30, co entered into a definitive credit agreement with a syndicate of banks and financial institutions - sec filing.Coach Inc - plans to use borrowings under term loan facilities to fund, in part, purchase price of co's planned acquisition of Kate Spade.Coach - revolving credit facility will replace previously existing credit facility under amendment and restatement agreement, dated as of march 18, 2015.Coach Inc - under‍ agreement lenders have committed to lend an $800 million term loan facility maturing six months after term loans thereunder are borrowed.Coach - under agreement lenders have committed to lend a $300 million term loan facility maturing 3 years after term loans thereunder are borrowed.Coach inc - ‍agreement provides that revolving commitments under revolving credit facility may be increased by an amount not to exceed $300 million​.Coach- ‍aggregate amount outstanding at any time with respect to standby letters of credit may not exceed $125 million.Coach - under agreement, lenders have also made available to company a $900 million revolving credit facility with a maturity date of may 30, 2022.  Full Article

Coach Inc launches tender offer to acquire Kate Spade & Co for $18.50 per share in cash
Friday, 26 May 2017 07:00am EDT 

May 26 (Reuters) - Coach Inc : :Coach Inc launches tender offer to acquire Kate Spade & Company for $18.50 per share in cash.Coach Inc launches tender offer to acquire kate spade & company for $18.50 per share in cash.Coach Inc - tender offer will expire at 11:59 P.M. Edt on June 23, 2017, unless extended.Coach Inc - Chelsea Merger Sub Inc, has commenced a tender offer for all of outstanding shares of common stock, par value $1.00 per share, of Kate Spade & Company.  Full Article

Coach sets quarterly cash dividend of $0.3375 per share
Friday, 19 May 2017 06:45am EDT 

May 19 (Reuters) - Coach Inc ::Sets quarterly cash dividend of $0.3375per share.  Full Article

Coach CEO- Approximately 60 pct of Kate Spade's consumers are millennial
Monday, 8 May 2017 10:56am EDT 

May 8 (Reuters) - Coach Inc :CEO on conf call- marketing and design, merchandising teams to remain independent for Kate and Coach, corporate functions to be shared.CFO- will issue $1.1 billion term loan, $1 billion senior secured loans.CEO- approximately 60% of Kate Spade's consumers are millennial.CEO- "in the short-term, we're not going to be looking at any major acquisitions...we have the financial flexibility to look at other smaller acquisitions in the size of a Stuart Weitzman or smaller".  Full Article

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Loyalists unhappy as Coach becomes Tapestry Inc

Iconic luxury handbag maker Coach Inc risked Wall Street and social media ire on Wednesday by announcing a change of its corporate name to Tapestry Inc, as it evolves into a multi-brand upscale retailer.