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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 This material may not be published, broadcast, rewritten or redistributed., source Associated Press News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 5 855 M
EBIT 2018 1 005 M
Net income 2018 686 M
Finance 2018 797 M
Yield 2018 3,46%
P/E ratio 2018 16,61
P/E ratio 2019 14,66
EV / Sales 2018 1,78x
EV / Sales 2019 1,63x
Capitalization 11 215 M
Chart COACH INC
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Coach Inc Technical Analysis Chart | COH | US1897541041 | 4-Traders
Technical analysis trends COACH INC
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 36
Average target price 48,8 $
Spread / Average Target 24%
EPS Revisions
Managers
NameTitle
Victor Luís Chief Executive Officer & Director
Todd Kahn President, Secretary & Chief Accounting Officer
Olajide James Zeitlin Non-Executive Chairman
Kevin G. Wills Chief Financial Officer
Christine C. Putur Chief Information Officer & Executive VP
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