{"id":229085,"date":"2010-01-25T14:33:00","date_gmt":"2010-01-25T19:33:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:385862"},"modified":"2010-01-25T14:33:00","modified_gmt":"2010-01-25T19:33:00","slug":"luxury-retailer-has-sights-on-china","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/229085","title":{"rendered":"Luxury retailer has sights on China"},"content":{"rendered":"<p>Add luxury retailer <a href=\"http:\/\/www.financialpost.com\/markets\/company\/index.html?symbol=COH&amp;id=258461\" >Coach Inc.<\/a> to the list of U.S. multinationals expected to benefit from China&#39;s rapid economic growth. <\/p>\n<p>Last week, Coach reported better-than-expected second quarter results, with sales up 11% to over US$1-billion and net earnings up 12% from this time last year to US75\u00a2 per diluted share.<\/p>\n<p>While most of the attention fell on North American comparable store sales, which returned to growth by rising to 3.2% in the quarter, the double-digit revenue growth from China was also a highlight and may ultimately prove more important to the future bottom line for the company <\/p>\n<p>&quot;China continues to exceed expectations, causing management to accelerate the growth strategies for the region and revise the long-range plans significantly higher,&quot; said Murray Leith, analyst at Odlum Brown Ltd in Vancouver <\/p>\n<p>He said unaided awareness of the Coach brand is approximately 8% in China, compared to 72% in the U.S. and 63% in Japan, offering great growth potential inside the borders of the world&#39;s most populace country. <\/p>\n<p>Coach stock fell 9% last week depite the favourable results, but Mr. Leith said investors simply got ahead of the company&#39;s fundamentals, having bid up the shares earlier in the week. <\/p>\n<p>Now that Coach is selling at less than 15x fiscal 2011 earnings, he considers it a good buying opportunity and maintained his Buy recommendation and $40 target price.&nbsp;<\/p>\n<p><a href=\"mailto:dpett@nationalpost.com%20\">David Pett<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/np\/aggbug.aspx?PostID=385862\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Add luxury retailer Coach Inc. to the list of U.S. multinationals expected to benefit from China&#39;s rapid economic growth. Last week, Coach reported better-than-expected second quarter results, with sales up 11% to over US$1-billion and net earnings up 12% from this time last year to US75\u00a2 per diluted share. While most of the attention fell [&hellip;]<\/p>\n","protected":false},"author":4060,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-229085","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/229085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4060"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=229085"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/229085\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=229085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=229085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=229085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}