Coach (COH) Up on Strong Results from Tiffany (TIF)
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Shares of luxury retailer Coach (NYSE: COH) are seeing a slight bid today following better than expected results from ultra-luxury retailer Tiffany & Co (NYSE: TIF). Investors are hoping the TIF results set the stage for strong results from Coach for its current quarter.
Tiffany cited strong international sales growth for its stellar second quarter performance. In the U.S., comparable store sales declined 4%, but sale at its New York flagship store rose reflecting increased spending by non-U.S. visitors.
When Coach reported is latest quarterly results they provided a somewhat muted guidance. Investors are hoping this is a case of under-promise and over-deliver.
Shares of Tiffany are up 10% today. Coach is up 1.6% today.
Tiffany cited strong international sales growth for its stellar second quarter performance. In the U.S., comparable store sales declined 4%, but sale at its New York flagship store rose reflecting increased spending by non-U.S. visitors.
When Coach reported is latest quarterly results they provided a somewhat muted guidance. Investors are hoping this is a case of under-promise and over-deliver.
Shares of Tiffany are up 10% today. Coach is up 1.6% today.
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