The USA, Coach sales grow by 6%, Michael Kors’s “beyond expectations”

The premium sector favours many brands. Net sales of the Coach group in the fourth quarter amounted to $ 1.1 billion to about € 900 million, up 6% over the same period of the previous year. In the fiscal year, the turnover reached 4.9 billion dollars (4 billion euros), slightly increasing (+ 2%) on an annual basis. The United States Fashion Budget also includes the costs of the latest acquisitions. Stuart Weitzman (who takes part in the holding sales with 15% growth in sales in the last quarter) and Kate Spade. Coach CEO, Victor Luis, is said to be satisfied with “double-digit growth in net revenues”, while the group expects revenue growth of 30% in 2018. In the top-of-the-range, it achieves positive results also Michael Kors, the new owner of Jimmy Choo. In the April-June quarter, the retail net sales of the group grew by 10.1% ($ 619.1 million, approximately € 515 million) with 67 new openings. Despite total revenue falling 3.6% ($ 952.4 million, or about $ 793 million), CEO John D. Idol commented: “First quarter performance exceeds our expectations, thanks to sales in North America and Europe. 2018, however, will be a year of transition.“

PREMIUM CONTENT

Choose one of our subscription plans

Do you want to receive our newsletter?
Subscribe now
×
Sei un nuovo utente? Abbonati/Registrati