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4-Traders Homepage  >  Equities  >  Nyse  >  Coach Inc    COH

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COACH INC : COACH, LF USA and Target Reach Settlement in Lawsuit

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05/17/2010 | 10:35pm CET

Coach, Inc. (NYSE: COH), a leading marketer of modern classic American accessories, along with LF USA, Inc. and Target Corporation, (NYSE: TGT) today announced that all parties have amicably resolved the recent lawsuit filed by Coach.

The lawsuit, Coach Services, Inc. v. Target Corporation, and Rosetti Handbags & Accessories, Ltd., a division of LF USA, Civ. Action No.: 09 CV 8329 (LAK), filed by Coach on October 1, 2009, in the Southern District of New York, alleged defendants had, among other things, designed and sold handbags that infringed on certain of Coach's designs. ?We are pleased to have reached a settlement that is satisfactory to all parties in this litigation,? said Todd Kahn, Senior Vice President, General Counsel of Coach. Rick Darling, President of LF USA added, ?We respect the integrity of all brands, including Coach, and are pleased that this matter has been resolved in a manner beneficial to all parties involved.? The terms of the settlement are confidential.

Coach, with headquarters in New York, is a leading American marketer of fine accessories and gifts for women and men, including handbags, women's and men's small leathergoods, business cases, weekend and travel accessories, footwear, watches, outerwear, scarves, sunwear, jewelry, fragrance and related accessories. Coach is sold worldwide through Coach stores, select department stores and specialty stores, through the Coach catalog in the U.S. by calling 1-800-223-8647 and through Coach's website at www.coach.com. Coach's shares are traded on The New York Stock Exchanges under the symbol COH.

LF USA is a subsidiary of Li & Fung Limited, the world's leading sourcing company for consumer goods, managing the supply chain for retailers and brands worldwide. Headquartered in Hong Kong, the Group services its customer globally through a sourcing network of over 80 offices and 40 countries and territories. Corporate website: www.lifung.com

Coach
Analysts & Media:
Andrea Shaw Resnick, 212-629-2618
SVP Investor Relations and Corporate Communications
or
LF USA, Inc.
Analysts & Media:
Berns Communications
Jessica Liddell, 212-994-4660
Senior Vice President


© Business Wire 2010
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Financials ($)
Sales 2017 4 534 M
EBIT 2017 828 M
Net income 2017 590 M
Finance 2017 701 M
Yield 2017 3,47%
P/E ratio 2017 18,50
P/E ratio 2018 16,10
EV / Sales 2017 2,21x
EV / Sales 2018 2,04x
Capitalization 10 722 M
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Mean consensus OUTPERFORM
Number of Analysts 37
Average target price 42,6 $
Spread / Average Target 12%
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Managers
NameTitle
Victor Luís Chief Executive Officer & Director
Todd Kahn President, Secretary, CAO & General Counsel
Olajide James Zeitlin Non-Executive Chairman
Andrea Shaw Resnick CFO, Global Head-IR & Corporate Communications
Christine C. Putur Chief Information Officer & Executive VP
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