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

COACH INC (COH)
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Coach : Luxury leather goods company Coach just changed its name and people are upset

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10/12/2017 | 04:26pm CEST

Oct. 12--Nooooo.

Coach is not dead.

Oh, wait. Yes it is.

So either chuck all your bags and accessories or keep them for nostalgia's sake.

Because it's the end of an era over at Coach Inc., reports The New York Times.

Say hello to Tapestry.

On Wednesday, the accessible-luxury group that owns Coach, Stuart Weitzman and Kate Spade made the shocking announcement that the brand was changing its name.

"It's a wonderful metaphor for what we believe in, which is individual threads of different colors all working together to create a picture," said Victor Luis, the chief executive.

The new name works, says Luis, because it "wasn't too corporate-y or made up, that was easy for everyone to understand."

The name change officially goes into effect Oct. 31. Halloween -- not April Fool's Day. So don't bother searching for "Coach" after that, unless you are looking for scandals like Chris Foerster (who resigned from the Miami Dolphins after a damning video of him surfaced).

The Times adds that Tapestry will trade on the New York Stock Exchange under the symbol TPR, so don't bother looking for COH anymore.

Founded in a NYC in 1941, Coach used to be one of the hottest tickets around but lost its luster in fashion circles in recent years.

___

(c)2017 Miami Herald

Visit Miami Herald at www.miamiherald.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2018 5 861 M
EBIT 2018 991 M
Net income 2018 347 M
Debt 2018 448 M
Yield 2018 2,79%
P/E ratio 2018 40,34
P/E ratio 2019 16,75
EV / Sales 2018 2,43x
EV / Sales 2019 2,28x
Capitalization 13 821 M
Chart COACH INC
Duration : Period :
Coach Inc Technical Analysis Chart | COH | US1897541041 | 4-Traders
Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 35
Average target price 55,8 $
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
Victor Luís Chief Executive Officer & Director
Todd Kahn President, Secretary, CAO & General Counsel
Olajide James Zeitlin Chairman
Kevin G. Wills Chief Financial Officer
Michael Braine Chief Information Officer
Sector and Competitors
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ROSS STORES7.90%32 925
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