Today - Saturday, December 7, 2013
12:03 PMCoach may be fashionable again in 2014: Barron's
- "I have every confidence that under our leadership, [the company] will resume growth," Coach's (COH) Chairman and CEO Lew Frankfort tells Barron's, referencing an upcoming shakeup wherein he will assume the role of executive chairman, while current CCO Victor Luis will take the CEO reins.
- Investors are hoping Luis can preside over a renaissance at the company which, thanks to "pinched" consumer spending and competition from the likes of Michael Kors," is "selling for [just] 16 times forward earnings estimates."
- Analysts cited by Barron's seem generally upbeat about the prospects and with new products and designs on the way in 2014, Christopher Williams thinks "a few COH shares might make great stocking stuffers."