Coach Reverses Slow Growth

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Coach Reverses Slow Growth

 

The luxury leather brand, Coach, is reversing its decrease in growth in the first quarter of 2016. Revenues fell by 0.8% to $1.03 billion in the first quarter, whilst net profit fell to 96.4 million. After the last three quarters, the decline in revenue fell to a double digit percentage. However, the CEO of Coach, Victor Luis, is optimistic about the company’s future, remarking that “We are pleased with our first quarter performance, which was consistent with our plan and reflects continued progress in our journey of transformation, and this momentum will continue into the second quarter. Overall, this will result in a return to top line growth in FY16”. The company marked a 5% increase and profit, overtaking analysts’ predictions. This increase is aided by the popularity and therefore demand for its handbag lines the Ace and Nomad.

 

Coach Reverses Slow Growth

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Written by Julie Duan

Julie is a finalist studying English Literature at Warwick University with a keen creative spirit. Her obsession with fashion grew out of reading her mother’s Vogues as a child. She is an enthusiastic painter and an even more enthusiastic Beyonce fan. Her style icons include Karl Lagerfeld and her mother.

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