Coach (COH) To Unveil a Limited Edition Collaboration with Disney - Piper Jaffray
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Rating Summary:
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Piper Jaffray analyst, Erinn Murphy, believes Coach will unveil a Mickey Mouse collaboration but in a good sense. This could be another driver to close out a strong 4Q. No change to Overweight rating or $47 PT.
The next big limited edition collection for full-price is likely to be a Coach 1941 x Mickey Mouse collaboration. On the last call, management indicated that they had a special collaboration to launch in June as part of their 75th Anniversary with "another storied American brand to be announced later this spring". Late last week, a 36-piece Coach 1941 x Mickey Mouse collection leaked into the blogosphere and we believe this assortment to be the one referenced by management on the last call. The assortment ranges from women's handbags (Saddle Bags, Dinky, Kislock) to men's backpacks & wallets, luggage tags, bookmarks, ready-to-wear and accessories. This collection could launch on or around June 17th--another driver to close out a strong Q4 comp (PJCe: 1.6%).
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 $41.34 yesterday.
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