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Coach reports 24% rise in Q1 net profit
By Ding Yining |
17:19 UTC+8 August 1, 2012
|
Online Edition
Online Edition
APPAREL and accessories maker Coach Inc reported a 24 percent annual increase of net profit in the quarter ended June 30 driven by strong sales growth and an increase of distribution channels.
Sales in the fourth fiscal quarter added 12 percent from a year ago to US$1.03 billion and profit stood at US$251 million, The New York-based said in a stock exchange filing yesterday.
The company, listed in both New York and Hong Kong Stock Exchange, has been extending retail network in emerging luxury markets like China.
In the full 2012 fiscal year, sales in China jumped 60 percent to US$300 million, including income from Chinese mainland, Hong Kong, Taiwan and Macau.
Globally, sales grew 15 percent to US$4.76 billion and income jumped 18 percent to US$1.04 billion.
Coach also added another 11 new stores to bring the total number of retail outlets to 96 in Chinese mainland, Hong Kong and Macau by the end of June.
Sales in the fourth fiscal quarter added 12 percent from a year ago to US$1.03 billion and profit stood at US$251 million, The New York-based said in a stock exchange filing yesterday.
The company, listed in both New York and Hong Kong Stock Exchange, has been extending retail network in emerging luxury markets like China.
In the full 2012 fiscal year, sales in China jumped 60 percent to US$300 million, including income from Chinese mainland, Hong Kong, Taiwan and Macau.
Globally, sales grew 15 percent to US$4.76 billion and income jumped 18 percent to US$1.04 billion.
Coach also added another 11 new stores to bring the total number of retail outlets to 96 in Chinese mainland, Hong Kong and Macau by the end of June.
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