Coach (COH): Fall Line Pricing Up 27%, Looks Positive For SSS - Piper Jaffray
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Seaport Global Securities Starts Canadian Pacific Railway Limited (CP) at Buy
- Susquehanna Cuts Price Target on KLA-Tencor (KLAC) Following Strong 1Q
- JPMorgan Downgrades ARIAD Pharmaceuticals (ARIA) to Underweight
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesPiper Jaffray, Erinn Murphy
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!