Actionable news
0
All posts from Actionable news
Actionable news in M: MACY'S Inc,

Coach Chief Victor Luis Talks Earnings, Outlook

Coach Chief Victor Luis Talks Earnings, Outlook - Coach, Inc. NYSE:COH, Macy's Inc NYSE:M

Coach Inc COH 1.23%'s CEO Victor Luis was a guest on CNBC Tuesday to talk about the company's Q2 earnings print and his outlook looking forward.

Luis highlighted the company's recent quarter's accomplishments, including a 2 percent North American comp growth which was actually the first quarter since fiscal 2013 when the metric was positive. The company also saw double-digit growth in China and Europe and its acquisition of the Stuart Weitzman brand was accretive to earnings.

Luis continued that Coach's strategy isn't necessarily to market an "exclusive" line of luxury rather goods - rather a more "accessible" product line, especially compared to the high-end European handbag and luxury good makers.

"It's about elevating the brand and making it more emotional and more attractive to the consumers," he said.

Related Link: Coach's String Of Positive Earnings Surprises Continues

Company Owned Stores & Department Stores

Luis stated that Coach's investments in its product and store-front will also contribute to the brand's desirability.

The executive said another "important step" he has taken is the reduction of "flash sales." In fact, Coach reduced its flash sales by approximately $300 million and this is now a strategy that some of its peers are looking to copy.

Finally, Luis said it will cease selling items in approximately a quarter of wholesale locations, including Macy's Inc. M 2.61%. Instead, the company will focus on driving traffic to its own stores.

"This isn't necessarily about us leaving that channel; this is about us focusing our resources in the most important doors," Luis concluded.

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.