Coach's First Class Quarter

| About: Tapestry, Inc. (TPR)
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Excerpt from our One Page Annotated Wall Street Journal Summary (receive it by email every morning by signing up here):

Coach Net Rises 31% on Solid Sales

  • Summary: Bucking recent concerns in the retail sector, Coach reported Q2 (fiscal Q4) quarter profit of $117.6 million ($0.31/share), up 31% from $89.9 million ($90.23/share) for the same period last year. Total sales and direct-to consumer sales both increased 23% to $514.4 million and $419 million, respectively. Retail store sales rose 11%, with same store sales (stores open at least one year) rising 19%, and factory stores sales rising by 29%.
  • Comment on related stocks/ETFs: Despite Coach's recent recovery from its July 15th 52 week low ($25.18), Chad Brand still sees room for more upside. Coach and other luxury retailers have the wind at their backs because of widening income inequality in the US, leading to greater spending power among more affluent shoppers. See Coach's fiscal fourth quarter earnings conference call.