Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Coach Rises on Report Company May Consider Sale

Coach Inc., the largest U.S. luxury-handbag maker, rose after DealReporter said there is speculation the company may consider a sale.

The shares climbed 2.8 percent to $47.82 at the close in New York. The New York-based company slid 14 percent this year, compared with a 6.7 percent gain for the Standard & Poor’s 500 Consumer Discretionary Index.

Coach is speculated to be exploring a sale, DealReporter said today, citing two bankers it didn’t name. Andrea Resnick, a spokeswoman for Coach, said the company doesn’t comment on speculation or rumors, “particularly unsubstantiated ones.”

“I am not putting too much weight on” takeover speculation, said Corinna Freedman, an analyst with Wedbush Securities in New York. “I am not sure who would make sense for this.”

Coach’s large size limits the number of potential buyers and its small presence in Europe probably precludes interest from large European luxury companies, she said in an e-mail. Freedman rates Coach neutral, the equivalent of a hold.

The company’s North American same-store sales have declined amid economic pressure on consumers and growing competition from Michael Kors Holdings Ltd. Coach earlier this month said Victor Luis, head of its international business, would succeed Chief Executive Officer Lew Frankfort next year.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.