Coach (COH) Tops Q4 EPS by 4c; Guides FY17
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Coach (NYSE: COH) reported Q4 EPS of $0.45, $0.04 better than the analyst estimate of $0.41. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.17 billion.
Fiscal Year 2017 Outlook:
The following fiscal 2017 guidance is provided on a non-GAAP, 52-week basis versus 52-week basis.
The Company expects revenues for fiscal 2017 to increase by low-to-mid single digits, including an expected benefit from foreign currency of approximately 100-150 basis points based on current exchange rates.
In addition, the Company is initiating an operating margin forecast for Coach, Inc. of between 18.5-19.0% for fiscal 2017. This guidance incorporates the negative impact of both Stuart Weitzman and the strategic decision to elevate the Coach brand’s positioning in the North American wholesale channel, including the closure of about 25% of doors and a reduction in markdown allowances. Excluding this impact, Coach brand operating margin would be in the area of 20% in fiscal 2017, consistent with prior guidance.
Interest expense is expected to be in the area of $25 million for the year while the full year fiscal 2017 tax rate is projected at about 28%.
Taken together, the Company is projecting double-digit growth in both net income and earnings per diluted share for the year.
For earnings history and earnings-related data on Coach (COH) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- GrubHub (GRUB) Tops Q3 EPS by 4c; Active Diners Rose 19%
- Franklin Resources (BEN) Tops Q4 EPS by 13c
- Arlington Asset Investment (AI) Misses Q3 EPS by 2c
Create E-mail Alert Related CategoriesEarnings, Guidance, Hot Earnings
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!