Unique Balance Sheet Assets Make Coach An Attractive Buyout Target
Paul Goncalves, CFA
Paul Goncalves, CFA
Wed, Jul. 27, 9:04 AM
- Shares of Coach (NYSE:COH) are on watch after Credit Suisse upgrades the high-end fashion house to Outperform from Neutral.
- "We believe stabilization in Coach's core business combined with a possible acquisition narrative could help drive significant, sustained earnings power long-term," reads the analyst note.
- CS assigns a price target of $47 to Coach.
- COH +1.14% premarket to $43.62.
Mon, Jul. 18, 7:17 AM
- Baird upgrades Coach (NYSE:COH) to an Outperform rating from Neutral after taking in positive results from a handbag survey.
- Analyst Mark Altschwager sees sales trends improving for Coach, including in the outlet channel.
- The investment firm lifts its price target to $50 from $45.
- COH +0.95% premarket to $42.70.
Thu, Jul. 14, 7:31 AM
- Coach (NYSE:COH) appoints Wendy Kahn to be the chief executive and brand officer of Stuart Weitzman.
- Kahn, currently CEO of Valentino USA, takes over the position on September 13. The exec will succeed Wayne Kulkin who will become a consultant to Coach.
- Coach acquired womens footwear maker Stuart Weitzman for $574M in 2015.
Tue, Jul. 5, 2:43 PM
- Full-price sales of luxury items have dropped sharply since the Brexit vote came in. Data-tracking firm Edited reports global luxury sell outs decreased 60% in the two weeks after the Brexit referendum, compared to the two-week period prior to the vote.
- The sector was already having a challenging year due a drop in Chinese tourism before the shock U.K. result.
- Luxury retailers: Gucci (OTC:PPRUF, OTCPK:PPRUY), Louis Vuitton (OTCPK:LVMUY), Coach (NYSE:COH), Ralph Lauren (NYSE:RL), Michael Kors (NYSE:KORS), Burberry (OTCPK:BURBY), Tiffany (NYSE:TIF), LVMH (OTCPK:LVMHF, OTCPK:LVMUY), Richemont (OTCPK:CFRUY, OTCPK:CFRHF), Remy Cointreau (OTCPK:REMYF, OTCPK:REMYY).
Fri, Jul. 1, 5:36 PM
Mon, Jun. 13, 7:31 AM
- Piper Jaffray upgrades Coach (NYSE:COH) to an Overweight rating on enthusiasm that the company's upcoming collaboration with Disney will drive sales.
- Coach is selling a limited-edition leather goods and apparel collection featuring Mickey Mouse.
- The full Disney X Coach 1941 collection goes on sale in Coach stores worldwide and online on June 17.
Thu, Jun. 9, 5:54 PM
- Coach (NYSE:COH) CFO Jane Nielsen is leaving the company to become Ralph Lauren's (NYSE:RL) CFO. She's expected to remain with Coach until August, and will start her new job on Sep. 6. IR/communications chief Andrea Resnick is expected to serve as interim CFO while Coach searches for Nielsen's successor.
- At Ralph Lauren, Nielsen will be replacing Bob Madore as CFO. Madore will remain with the company until Sep. 30.
- Ralph Lauren also says it has hired Amazon logistics exec Bill Campbell to be its SVP of global supply chain and inventory management, and Jeff Kuster, formerly an exec at HSN, Fruit of the Loom, and VF Corp., its Americas group president. Kuster will "oversee all commercial activities for the Americas region, including Wholesale, Retail, E-Commerce, Factory, Travel Retail and Latin America."
Wed, May 18, 6:50 AM
Mon, May 16, 12:10 PM
- Leon Cooperman's Omega Advisors sold its roughly 3M share stake in Citigroup (NYSE:C) in Q1, which had accounted for about 3.4% of the fund's holdings.
- He took new stakes in PayPal Holdings (NASDAQ:PYPL), UnitedHealth (NYSE:UNH), Coach (NYSE:COH), Lowe's (NYSE:LOW), Autozone (NYSE:AZO), and Electronic Arts (NASDAQ:EA).
- Cooperman also cut his FANG exposure, selling more than 50% of his Facebook (NASDAQ:FB), and about one-third of his Google (GOOG, GOOGL).
- While the 13F also shows a new 227K share stake in Apple (representing 0.7% of the total portfolio), CNBC reports that holding has since been sold.
Wed, May 11, 10:04 AM
- A devastating F/X-ravaged report turned in by Fossil (FOSL -31.3%) and a general sense that U.S. consumer spending on apparel is weak (L Brands, Gap, Macy's) is taking a toll on some high-end retailers.
- Michael Kors (KORS -10.8%), Movado (MOV -7.6%), G-III Apparel (GIII -9.9%), Kate Spade (KATE -2.9%), PVH (PVH -5.6%), Ralph Lauren (RL -5.8%), Coach (COH -3.8%), and Luxottica (LUX -1.9%) are all spinning lower with anxiety over sales trends rising.
- Previously: Fossil crushed after sales and margins shrink (May 10)
- Previously: Specialty retail not looking so special to investors (May 11)
Tue, May 3, 8:02 AM
- Piper Jaffray thinks a collaboration with Disney will help Coach (NYSE:COH) drive up sales results in FQ4.
- Coach management tipped off that a partnership with a "storied" American brand would be announced sometime this spring. Analyst Erinn Murphy puts two and two together after noting that a 1941 Mickey Mouse collection from Coach leaked online last week.
- Coach is rated at Overweight by PJ with a price target of $47.
Tue, Apr. 26, 2:07 PM
- Coach (COH +3.3%) discloses it will cut its workforce by about 2% with the elimination of 300 jobs. The job cuts will run deeper with corporate staffing than at stores. Included in the turnover at Coach is the COO and a top global marketing exec.
- Shares of Coach are higher today with the company's tone on efficiency and improved results in North American helping to lift sentiment.
- Previously: Coach beats by $0.03, beats on revenue (April 26)
- Previously: North American business starts to rebound at Coach (April 26)
Tue, Apr. 26, 7:42 AM
- Coach (NYSE:COH) reports sales rose 13% on a currency-neutral basis in FQ3.
- The North American business delivered flat comparable-store sales growth to break a long streak of negative comps. A positive comp is expected in FQ4.
- International sales were up 7% (constant currency) with both China and Japan positive.
- Gross margin rate -260 bps to 69.0%.
- SG&A expense rate -150 bps to 54.3%.
- Operating margin rate -30 bps to 13.0%.
- The company expects to reach a 20% operating margin for the Coach brand in FY17. As part of its earnings release, a number of management changes and promotions were announced.
- COH -0.72% premarket to $39.90.
Tue, Apr. 26, 6:48 AM
Mon, Apr. 25, 5:30 PM
- ABG, ABX, AHGP, AIXG, AKS, ALLY, ARLP, ATI, AVX, AXE, BAX, BEAV, BLMN, BP, CNC, CNX, COH, CPLA, CRS, CTG, CYNO, DD, DFRG, DTE, ENTG, ETR, FBC, FCAU, FCH, FCX, FLIR, FLWS, FMER, GLPI, GLW, GPK, HSY, HUBB, HZO, ICLR, IIVI, IR, JBLU, JNS, LLY, LMT, LPT, MAS, MDXG, MHFI, MMM, NCI, ODP, PAG, PCAR, PCH, PG, PH, PNR, POL, R, RAI, SAH, SAVE, SCL, SIR, SPG, ST, SUI, SVU, TEN, TMUS, TRI, TROW, WAB, WAT, WDR, WHR, WYN
Fri, Apr. 15, 9:16 AM
- American Eagle Outfitters (NYSE:AEO) announces that it ended the practice of "on-call" shifts.
- The company says the new policy is being reinforced across the American Eagle store fleet.
- The use of on-call shifts in the retail sector continues to generate significant negative publicity for many chains, and has the Illinois Attorney General along with counterparts in other states asking questions.
- Other companies which are under on-call scrutiny include Carter's (NYSE:CRI), Aeropostale (NYSE:ARO), Coach (NYSE:COH), David's Tea (NASDAQ:DTEA), Justice (NASDAQ:ASNA), Tilly's (NYSE:TLYS), and Uniqlo (OTCPK:FRCOY).
- Now read Should You Buy Retail ETFs Despite Soft Sales?
Coach, Inc. engages in manufacturing of women's handbags, belts and retails custom made clothing. Its products include footwear; wearable such as scarves, jackets, gloves, and hats; jewelry such as bracelets, necklaces, rings, and earrings; travel bags which include luggage, travel kits, and... More
Sector: Consumer Goods
Industry: Textile - Apparel Footwear & Accessories
Country: United States
Other News & PR