Retail in Asia

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Coach profit up as North America, China sales rise

Upscale leather goods maker Coach posted a higher-than-expected quarterly profit on Tuesday, benefiting from sales gains in China and at its own North American stores.

Revenue in the third quarter ended on 31 March rose 16.6 percent to USD1.11 billion, just above the USD1.10b Wall Street analysts were expecting, according to Thomson Reuters I/B/E/S.

Sales at Coach’s North American stores open at least a year rose 6.7 percent. In China, a small but fast-growing market for Coach, sales soared 60 percent and were on pace to hit at least USD300 million this year. That would represent 6.3 percent of Wall Street’s forecast of USD4.8b for total company revenue.
 

(Source: CNBC)