Coach Gives Tepid Forecast Amid Turbulent Retail Environment
- CEO says currencies, terrorist attacks are hurting sentiment
- Fourth-quarter earnings top estimates as new items boost sales
Luxury handbag maker Coach Inc. forecast earnings and sales for the current year that were roughly in line with analysts’ expectations, showing that the company’s turnaround efforts are being challenged by a difficult retail environment.
Revenue for fiscal 2017 will increase at a low-to-mid-single-digit percentage rate, and earnings per share will grow at a double-digit pace, the New York-based company said in a statement Tuesday. Analysts estimated a 4 percent revenue gain and a 15 percent increase in adjusted earnings.