Coach Expands Internationally
Coach, Inc. (NYSE:COH) seems to be getting the best of economic conditions. The company had better-than-expected results for 2012’s second quarter. China and North America sales were the growth drivers. The company will continue to open dedicated men’s stores, expecting that business to double to more than $400 million globally.
Just in China, the company is expecting the country to produce sales growth of $300 million. Company strategy call for controlling certain retail markets in Asia. That strategy currently operates stores in Singapore and Taiwan, and plans for operating in Malaysian in July.
Coach opened several retail stores and factory stores to produce handbags,wallets,shoes, and accessories. North America added 5 retail and 5 factory stores, Japan 6 stores and China added 9 new stores.
A share buyback of 4.8 million shares at $62.48 still leaves the company with $600 million available for additional share buyback.