This is refreshing news in these economic times. According to WWD, American women still want their Coach bags. Coach Inc. just posted a 32.9% rise in profits to $213.5 million, compared with $160.6 million a year ago.
Sales for the three months ended June 28 advanced 19.8 percent to $781.5 million from $652.1 million.
“We’re pleased with our solid sales performance for the quarter and the growth of our North American businesses, where total revenues increased 18%, including a 22% gain in sales at our stores driven by both distribution growth and productivity gains,” said Lew Frankfort, chairman and chief executive officer.
We attribute some of this growth in sales to the fact that a Coach bag is typically a lot less expensive than a high-end designer bag and to some…still has some cache.
Source: WWDSee the Top Ten Summer 2016 Trends for Women Over 40