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Coach, Inc. (COH)

  • Tue, Jan. 6, 7:51 AM
    • Shares of Coach (NYSE:COH) move higher in early action after the company lands the Stuart Weitzman brand.
    • Retail analysts see the luxury shoe concern a nice fit for Coach on the upside growth potential for the brand.
    • The move by the company gives it a path to stem the declining market share to Michael Kors and Kate Spade.
    • The timing of the announcement could also take some of the sting out of a Coach Q4 earnings miss.
    • Previously: Coach nabs Stuart Weitzman brand
    • COH +1.1% premarket.
  • Tue, Jan. 6, 7:09 AM
    • Coach (NYSE:COH) confirms it will purchase luxury brand Stuart Weitzman in a deal valued at up to $574M.
    • Stuart Weitzman took in revenue of close to $300M for the 12 months ending last September 30.
    • Under the terms of the deal, Coach will pay Sycamore Partners $530M for the property and contingent payments tied to performance of up to $44M.
    • The company will use cash on hand and other source of available financing to close the acquisition.
    • Previously: WSJ: Coach nearing $600M purchase of Stuart Weitzman (Jan. 05 2015)
  • Mon, Jan. 5, 6:47 PM
    • The WSJ reports Coach (NYSE:COH) is close to acquiring high-end women's shoe/handbag brand Stuart Weitzman for $600M, and that a deal could be announced as early as this week.
    • P-E firm Sycamore Partners gained ownership of Stuart through the $1.2B Jones Group acquisition. Coach is coming off an FQ1 in which its North American comparable-store sales fell 24% Y/Y.
  • May. 13, 2013, 2:50 PM
    Coach (COH -0.2%) wants to accessorize by buying a new brand after the emergence of Michael Kors and other new brands in North America has made organic growth tougher. The company approached luxury retailer Tory Burch last year, but a $2B-$3B deal offer wasn't quite enticing enough to land a deal.
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Company Description
Coach Inc is a New York design house of modern luxury accessories and lifestyle collections. Its product offerings include women's and men's bags, accessories, business cases, footwear, wearables, jewelry, sunwear, travel bags, watches and fragrance.