Coach (COH): Fall Line Pricing Up 27%, Looks Positive For SSS - Piper Jaffray

August 30, 2016 6:17 AM EDT
Get Alerts COH Hot Sheet
Price: $35.71 -0.81%

Rating Summary:
    21 Buy, 24 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 18 | New: 30
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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.

For an analyst ratings summary and ratings history on Coach click here. For more ratings news on Coach click here.

Shares of Coach closed at $38.99 yesterday.

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Piper Jaffray, Erinn Murphy

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