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[b][url=http://www.usgbc-cf.net/]tiffany & co[/url][/b]
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Analyst: Coach Turnaround Will Take Years And Capital
Wed, May 28 2014 00:00:00 E
By MARILYN ALVA , INVESTOR'S BUSINESS DAILY Posted 05/28/2014 03:02 PM ET
Turnaround efforts at ailing retailer Coach will likely take years and involve multiple initiatives, JPMorgan analyst Brian Tunick said in a note published Wednesday after meeting with senior management.
The message from senior leaders was consistent, he wrote: "The turnaround is going to take time and capital to reposition ( Coach (NYSE: COH ) in this new competitive landscape."
Coach is believed to have been losing share in its core handbags and accessories business to Michael Kors (NYSE: KORS ), one of the hottest retail brands in the U.S. and Europe in recent years.
View Enlarged Image Luxury and affordable-luxury retailers have generally been doing well, Tiffany (NYSE: TIF ) among them. But Coach has been the exception.
Coach's same-store sales in North America plunged 21% in Q1 on weakness in women's handbags and accessories. The company has logged flat or modest earnings gains for five straight quarters. And it's expected to post double-digit declines for the remaining three quarters of its fiscal year and well into the next year.
In contrast, Michael Kors, which soundly beat estimates in its fourth quarter report Wednesday morning, is expected to continue to post strong double-digit profit gains. Tiffany's earnings are also seen rising in double digits, though not as much as Michael Kors.
What is Coach to do? Practically no aspect of the business will go untouched, according to Tunick, from product, design and stores to all aspects of marketing, including online and social media.
The "house of leather," he said, needs to become viewed as a "fashion authority."
"Other competitors have done a better job of tying in their brands to fashion, seasonality and a sense of 'I just have to have it,'" he said.
Coach's weak sales guidance for fiscal 2015 is partly due to its continued downsizing of domestic full-price stores, Tunick said. The outlet channel is believed to be two to three times more productive, with store margins above full-price stores, he added.
Management reiterated the following message several times, he said: "If we thought that factory (outlet selling) was degrading to the brand, we would have closed factory stores. Is it the root of our brand perception issues? We don't think so."
Tunick expects Coach to provide more details on store plans at a meeting with analysts on June 19, including Studio Sofield rollouts at full-price stores and newly designed lifestyle stores.
Related: Michael Kors Earnings Strong But Margins Hemmed In ?
Restoration Hardware, Grifols Show Strength tiffany and co A couple of newcomers to Sector Leaders are showing impressive strength. But an old stand-by is having problems. Restoration Hardware (NYSE:RH) popped up on Sector Leaders last week after reporting strong earnings. It had been basing for months, but was under most growth investors' radar because ...
06/16/2014 06:07 PM ET
Major Averages Turn Modestly Higher; Super Micro Jumps tiffany silver Stocks bounced back from modest losses and turned narrowly mixed Monday afternoon. Despite a round of deal news and better-than-expected data, equities have mostly wavered in Monday's session. The Nasdaq gained 0.2%, while the S&P 500 and Dow Jones industrial average each rose 0.1%. Turnover ...
06/16/2014 01:26 PM ET
Stocks Stay Calm, Add Gains; Several Leaders Still In Bases tiffany pearl earring Stocks strolled ahead in quiet volume Friday, keeping their composure a day after some heavy selling. The Nasdaq and S&P 500 added 0.3% each. The IBD 50 rose 0.2%. Volume fell across the board, which might've been partly tied to caution in advance of the Federal Reserve's meeting set for Tuesday ...
06/13/2014 06:32 PM ET
Under Armour, Restoration Hardware In Sector Leaders tiffany bracelet Sector Leaders ended the week with more of the same — mostly small moves in light trade. Under Armour (NYSE:UA), up 90 cents to 57.51, entered Leaders on Thursday. The stock is building the right side of a cup-shaped base with a potential 62.49 buy point after finding support at its 40-week ...
06/13/2014 06:13 PM ET
Sector Leaders Quiet, But Sanchez Surges To New High tiffany silver ring Most Sector Leaders held up better than the overall market, posting minor losses in lower trade and keeping their current bases intact. Among those still basing, Actavis (NYSE:ACT) shed 2.39 to 208.28, Alexion Pharmaceuticals (NASDAQ:ALXN) 1.49 to 165.97, KapStone Paper & Packaging (NYSE:KS) ...
06/12/2014 06:14 PM ET
More Business Articles:
Restaurants Serving Happier Customers, Survey Says tiffany bracelet A new report on the restaurant industry shows a sharp rise in the number of Americans dining out vs. prior years and a slight increase in customer satisfaction, with eateries run by Darden Restaurants (NYSE:DRI) and others rating high in their respective categories. According to the 2014 American ...
08:02 AM ET
Factory, Housing Data Bolster Economic Rebound Story Fresh signs of an economic rebound emerged Monday in stronger-than-expected data on manufacturing and housing, supporting views for a solid second quarter ahead of a Federal Reserve policy meeting this week. Industrial production climbed 0.6% in May, as did manufacturing. The New York Fed's June ...
06/16/2014 06:59 PM ET
GasLog Sails On LNG Shipping Demand And Fuel Crisis In the battle to win the hearts, minds and dollars of energy users, natural gas has been putting up a pretty good fight against the traditional heavyweight champion, oil. Natural gas has gained popularity as an energy source for heating, cooking, generating electricity and fueling automotive ...
06/16/2014 06:32 PM ET
FedEx Expected To Truck Past Earlier Chilly Quarter After a chilly third quarter, FedEx (NYSE:FDX) is expected Wednesday to show that it's been trucking along to Q4 and year-end positives. The shipping company's Q4 earnings should rise 10.8% from a year earlier to $2.36 a share, and revenue is expected to rise 2% to $11.66 billion, according to ...
06/16/2014 02:22 PM ET
IBD 50 Stock Lithia Motors Soars On Dealer Chain Buy Oregon-based small-town auto dealership Lithia Motors (NYSE:LAD), on the IBD 50 list of top-rated stocks, soared 14% by midafternoon in the stock market today on news that it's buying DCH Auto Group. Lithia announced the $362.5 million deal Sunday. It brings the company one of the 10 largest dealer ...
06/16/2014 02:14 PM ET
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