NEW YORK – Luxury handbag-maker Coach Inc. is reporting fourth quarter increases of 43% in earnings per share, and fiscal year earnings per share increases of 41%.
“This quarter’s performance demonstrated a continuation of the strength we have seen throughout the year as our market share continued to grow across all channels and geographies,” said CEO Lew Frankfort. “Our performance also reflects the vibrancy of the premium handbag and accessory category in North America, where we continue to see significant growth.”
That growth includes plans to open as many as 40 new stores and in North America and six new factory outlets in the U.S. in the next fiscal year, plus more than 15 new stores in Japan. Coach will also increase its international wholesale locations by 30.
Coach estimates sales of $3.16 billion for 2008, up 21%.