Coach, Inc. Reports Un-Audited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 27, 2014
January 29, 2015 at 07:00 am
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Coach, Inc. reported un-audited consolidated earnings results for the second quarter and six months ended December 27, 2014. For the quarter, the company reported sales of $1.22 billion compared with $1.42 billion reported in the same period of the prior year, a decrease of 14%. On a constant currency basis sales declined 12% for the quarter. Net income totaled $200.2 million, with earnings per diluted share of $0.72, excluding transformation-related charges and acquisition costs compared to $297.4 million or $10.6 per diluted share in last year. Reported net income totaled $183.5 million, with earnings per diluted share of $0.66. This compared to net income of $297.4 million and earnings per diluted share of $1.06 in the prior year's second quarter. The company reported operating income of $275.4 million compared to $436.0 million, income before provision for income taxes of $275.8 million compared to $437.9 million in last year. On non-GAAP basis, the company reported operating income of $299 million, compared to $436 million, income before provision for income taxes of $299.4 million, compared to $437.9 million for the last year.
For the six months, the company reported net sales of $2.26 billion, down 12% from the $2.57 billion reported in the first six months of fiscal 2014. On a constant currency basis, sales declined 11% for the period. Net income totaled $346 million, with earnings per diluted share of $1.25, excluding transformation-related charges and acquisition costs compared to $515.3 million or $1.82 per diluted share in last year. The company reported net income of $302.6 million, with earnings per diluted share of $1.09 compared to net income of $515.3 million and earnings per diluted share of $1.82 reported in the prior year's first six months. The company reported operating income of $455.2 million compared to $757.6 million, income before provision for income taxes of $456.3 million compared to $761.2 million in last year. On non-GAAP basis, the company reported operating income of $515.9 million, compared to $757.6 million, income before provision for income taxes of $517.0 million, compared to $761.2 million for the last year.
Tapestry, Inc. is a global house of luxury accessories and lifestyle brands. The Company's brands include Coach, Kate spade New York, and Stuart Weitzman. The Company operates through three segments: Coach, Kate Spade and Stuart Weitzman. The Coach segment includes global sales of Coach products to customers through Coach operated stores, including e-commerce sites and concession shop-in-shops, and sales to wholesale customers and through independent third-party distributors. The Kate Spade segment includes global sales primarily of kate spade new york brand products to customers through Kate Spade operated stores, including e-commerce sites and concession shop-in-shops, sales to wholesale customers, and through independent third-party distributors. The Stuart Weitzman segment includes global sales of Stuart Weitzman brand products primarily through Stuart Weitzman operated stores, sales to wholesale customers, through e-commerce sites, and through independent third-party distributors.
TAPESTRY, INC. 
