Coach, Inc. Provides Earnings Guidance for the Year 2013; Announces Expansion Plans for the Year 2013
January 23, 2013 at 08:30 am EST
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Coach, Inc. provided earnings guidance for the year 2013. For the year, the company still expect an annual operating margin of about 31% with the compression from prior year as a result of investments. The company continue to expect that CapEx 2013 will be in the area of $250 million, primarily due to new store openings and expansions across all geographies, elevating store environment and investments in technology and infrastructure necessary to enable global expansion. Tax rate is likely to be in the area of 33%.
The company expects to open about 30 new stores in 2013 for about another 10 in the second half, bringing the total to about 125 locations at the end of 2013 in china. In North America, the company expect to open a few net new stores in the back half in addition to the 22 net openings in the first half, taking up about 25 net new stores for the year. In total, square footage will increase about 10% in fiscal year 2013. . In Japan expects to open about 10 net new locations, most of them dedicated Men's stores.
Tapestry, Inc. is a global house of luxury accessories and lifestyle brands. The Company's brands include Coach, Kate spade New York, and Stuart Weitzman. The Company operates through three segments: Coach, Kate Spade and Stuart Weitzman. The Coach segment includes global sales of Coach products to customers through Coach operated stores, including e-commerce sites and concession shop-in-shops, and sales to wholesale customers and through independent third-party distributors. The Kate Spade segment includes global sales primarily of kate spade new york brand products to customers through Kate Spade operated stores, including e-commerce sites and concession shop-in-shops, sales to wholesale customers, and through independent third-party distributors. The Stuart Weitzman segment includes global sales of Stuart Weitzman brand products primarily through Stuart Weitzman operated stores, sales to wholesale customers, through e-commerce sites, and through independent third-party distributors.
TAPESTRY, INC. 
