After many recents adjustments, including a lessened presence among outlet and department stores, Coach’s Q3 numbers showed positive earnings for the company.
The luxury handbag brand was able to raise their net income for the recent quarter to $122.5 million. The improvement represents an eight percent increase from the $112.5 million earned for the same quarter one year ago. It is also a three-cent difference per share compared to last year, growing to 43 cents from 40.
Seeing such difference is attributable to multiple changes within the brand. Coach withdrew from roughly 250 stores while offering less promotions to customers in remaining locations.
Though not all of the brand’s numbers yielded were encouraging. With a prior forecast of $1.03 billion, net sales fell to $995.2 million, a difference of 3.7 percent. This is also a result of the recent changes to their business strategy with the expectation of seeing future growth.
Aside from the statistics following it’s application, the decision to lessen their reach in stores can only serve to benefit the brand’s exclusivity. That, in addition to pressure from online retailers, summarize market shifts for consumers that have left many retailers scrambling to adapt.
With Coach being no exception, the brand will hope for a continued rise in the near future.