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Coach takes road of success with sales growth

By WANG ZHUOQIONG | | Updated: 2013-07-31 16:23

The New York-based design brand Coach Inc registered strong growth in China last year, according to its latest financial report.

During the fiscal year of 2013, Coach's net sales rose 7 percent to $5.08 billion from $4.76 billion the prior fiscal year.

Its net income increased 3 percent to $1.07 billion and diluted earnings per share rose 6 percent to $3.73.

Coach's China results were robust, with sales growing 40 percent to $430 million and comparable store sales rising at double digits.

The company recorded strong growth in men's accessories.

For the fourth quarter of the fiscal year, China results continued to be strong, with sales growing 35 percent and comparable store sales rising at double-digit rates.

Coach opened 8 locations on the Chinese mainland during the fourth fiscal quarter, bringing the total store count to 126.

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