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

COACH INC (COH)
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Coach : no more; New York company wants to be called Tapestry

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10/11/2017 | 04:05pm CEST

NEW YORK (AP) — To better incorporate all of the brands it now owns, the storied Coach company of New York is changing its name to Tapestry.

The luxury goods company that came to prominence in the "Mad Men" era now owns brands like Stuart Weitzman and Kate Spade & Co. as well. CEO Victor Luis said Wednesday that the name Tapestry is more inclusive.

Coach acquired Stuart Weitzman in 2015 in a deal valued up to $574 million. It spent $2.4 billion for Kate Spade this year, seeking to broaden its appeal. The Coach brand of bags and other goods is alive and well, but it becomes one of three brands sold by the company that will be called Tapestry.

"We are now at a defining moment in our corporate reinvention, having evolved from a mono-brand specialty retailer to a true house of emotional, desirable brands," Luis said in a company release.

A website with the new name, which becomes official at the end of the month, is up and running.

The change is part of Coach's pursuit of younger shoppers who may not feel the same draw to store windows on Manhattan's5th Avenue.

Coach began as a small workshop in Manhattan in 1941, and became a fashion powerhouse in the early 1960s through innovate designs.

Coach Inc. will also be changing its ticker symbol on the New York Stock Exchange from "COH," to "TPR." Shares of the company declined more than 3 percent to $38.77 in afternoon trading.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed., source Associated Press News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
1st jan.Capitalization (M$)
COACH INC16.16%13 821
INDITEX - INDUSTRIA DE DISEÑO TEXTIL0.77%106 897
KERING23.87%73 321
FAST RETAILING CO LTD16.13%49 946
ROSS STORES7.90%32 925
TIFFANY & CO.31.19%16 910