Coach Backs FY17 Forecast For Higher Earnings, Sales - Quick Fascts

(RTTNews) - Coach, Inc. (COH), a New York design house of modern luxury accessories and lifestyle brands, on Tuesday said it continues to project double-digit growth in both net income and earnings per share for fiscal 2017.

The company still expects revenues for fiscal 2017 to increase by low-to-mid single digits, including an expected benefit from foreign currency of approximately 100-150 basis points based on current exchange rates.

In addition, the company is maintaining its operating margin forecast of between 18.5-19.0% for fiscal 2017.

The margin view reflects the negative impact of both Stuart Weitzman and the strategic decision to elevate the Coach brand's positioning in the North American wholesale channel, including a reduction in promotional events and the closure of about 25% of doors.