A woman walks past Coach bags in a window of Macy’s flagship store, May 12, 2017 in the Herald Square neighborhood in New York City.
Coach is expected to report its fiscal fourth-quarter and full year earnings before the bell on Tuesday.
Here what’s Wall Street expects:
- EPS: 49 cents, according to Thomson Reuters.
- Revenue: $1.51 billion, according to Thomson Reuters.
As it streamlines its business, Coach is also acquiring valuable brands to stay ahead of competitors. On May 8, Coach announced it would acquire Kate Spade for $2.4 billion in an all-cash deal.
The fashion company was rumored to be pursuing Jimmy Choo before rival Michael Kors signed a deal to buy the high-end shoemaker for $1.2 billion.
In May, retail analyst Simeon Siegel of Nomura Instinet called Coach’s “shrinking to grow” plan one of the few success stories in the industry. He said the company’s better-than-expected third-quarter earnings were fueled by Coach’s efforts to cut back on discount and promotions in U.S. stores.
This story is developing. Please check back for updates.