Coach’s profit keeps growing

A few days ago, Tapestry, Inc., the parent company of light luxury brand, announced its second-quarter results as of December 30, 2017. The financial report pointed out that the recovery of Coach’s global same-store sales growth and holiday holiday product line were strong, and that was sold by Stuart Weitzman. Increased and contributed by Kate Spade’s contribution, Tapestry, Inc.’s net sales in the second quarter of fiscal year 2018 was US$1.79 billion, compared to US$1.32 billion in the same period of last year, which was a 35% increase on a financial reporting basis and a constant exchange rate, including Coach The net sales of the brand in the second fiscal quarter were 1.23 billion U.S. dollars, compared with 1.2 billion U.S. dollars in the same period of last year.

Calculated by financial report and constant exchange rate, a year-on-year increase of 2%; affected by the strategic adjustment of the wholesale business and the promotion of line-limit sales, Kate Spade’s net sales were US$435 million; Stuart Weitzman’s net sales for the second fiscal quarter was 1.21 Billion US dollars, the same period last year was 118 million US dollars, up 2% year-on-year.

Victor Luis, CEO of Tapestry, Inc. pointed out that in addition to the increase in sales revenue, the company also contributed to a significant increase in operating income by achieving better-than-expected profitability measures and stricter spending control, and stated that profit will exceed the beginning of this fiscal year. Annual profit guidelines set by Tapestry. According to Tapestry, Inc.’s adjusted guidance for fiscal year 2018, sales revenue is expected to increase by approximately 30% from FY17 to US$5.8-5.9 billion, while operating income is expected to increase by 22%-25% year-on-year.

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