COACH tiffany co Coach profits rise but said Japan's fourth-quarter results will affect the

COACH (Coach) profits rise, but said Japan's fourth-quarter results will affect tiffany co the

Chinese Network April 28 - COACH (Coach) is warning investors to continue Japan's crisis will affect current quarter, this high-end handbag maker higher than the market expected sales and earnings reports caused the shadow.

Kou Kou Chi Chi's Poppy series on Tuesday said third-quarter sales rose 14% to $ 950.7 million, mainly due to the same store in the North American market increased to 10.3 and in the Chinese market to reach double-digit growth.

The company now fully develop the Asian market.

COACH handbag is known for the production.

Said March 11 in Japan cheap tiffany co after the earthquake and tsunami and the nuclear crisis is still far-reaching.

COACH 18% from last year's sales of the Japanese market.

Company expects to close on June 2 the season sales will fall $ 20 million, down 2%, earnings per share by 2 cents to 3 cents.

According to market expectations, which will account for 64 cents fourth quarter earnings of about 5%.

But COACH CEO Lew Frankfort said, the worst case is likely to have in the past.

He said, "we do not see long-term damage. In fact, our full price stores have a full recovery."

COACH 174 stores in Japan, of which seven are still to cease operating.

COACH that, as of April 2 in the third quarter decreased $ 20 million in sales and 2.5 cents of profit, because the Japanese crisis.

COACH in the past two years, positioning itself in the "popular cheap tiffany co luxury brands", because more and more consumers and other high-priced handbags from Hermes to switch to the brand.

In the past few years, it is by introducing a new series and increased parity discount, tiffany co sale brand handbags that the average selling price decreased by 10 percent.

COACH pre-market trading in the stock price fell 58 cents, down 1 percent to $ 56.50.

Focus on the male market and Lew Frankfort said the Chinese market before the crisis in Japan is a shrinking of the mature market.

To reduce the dependence tiffany and co outlet on tiffany jewelry the Japanese market the brand, COACH will focus on the Chinese market, while expanding male accessories product line.

Men COACH products are currently sold only about 3%.

But Lew Frankfort said the business opportunities in this market segment.

Chinese market, tiffany and co sales growth of less than 5%, but the brand is expected to reach 10 percent by 2014.

COACH plans to open ten this season in the local stores, making China the number of stores increased to 55.

As of April 2 in the third quarter, COACH company recorded net income of $ 186 million, 62 cents per share, last year's $ 157.6 million, or 50 cents per share, compared with an increase of 18%.

This exceeded the market had sales of $ 947.2 million, 60 cents per share expectations.

COACH gross margin remained stable at 72.8%.

COACH 50% tiffany co increase in dividend to 90 cents per share annual dividend.

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