Coach (COH): Fall Line Pricing Up 27%, Looks Positive For SSS - Piper Jaffray
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Piper Jaffray analyst, Erinn Murphy, reiterated her Overweight rating on shares of Coach (NYSE: COH) after reviewing Coach's pre-Fall 2016 line. This year, 20% of total items featured were Coach's 1941 line, the company's elevated line.
The 1941 handbag assortment will be rolled out to all full-price retail stores by Holiday (vs. top-tier doors prior). When looking at pricing, on average, TY vs. LY, we saw AUR +27% Y/Y.
Key volume drivers appear to be extensions of the Rogue and the Mercer in addition to the Saddle. Ticket has been an on-going driver of comp-store sales improvement over the past several quarters and should fuel comp gains going forward.
No change to the price target of $46.
Shares of Coach closed at $38.99 yesterday.
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Related EntitiesPiper Jaffray, Erinn Murphy
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