michael kors cheap bag Good day

Coach's ceo discusses q3 cheapest michael kors bags 2011 results michael kors cheap bag Good day, and welcome to the coach conference call.Today's call is being recorded.At this time, for opening remarks and introductions, i would like to turn the call over to senior vice president of investor relations and corporate communications at coach, ms.Andrea shaw resnick.You may begin.Thank you. Good morning, andThank you for joining us.With me today to discuss our quarterly results are lew frankfort, coach's chairman and ceo;And mike devine, coach's cfo.Victor luis, president, international retail, will report on our asia direct opportunity.Before we begin, we must point out that this conference call will involve certain forward looking statements, including projections for our business in the current or future quarters or fiscal years.These statements are based upon a number of continuing assumptions.Future results may differ materially from our current expectations based upon risks and uncertainties such as expected economic trends or our ability to anticipate consumer preferences.Please refer to our latest annual report on form 10 k for a complete list of these risk factors.Also please note that historical growth trends may not be indicative of future growth.Now let me outline the speakers and topics for this conference call.Lew frankfort will provide an overall summary of our third fiscal quarter 2011 results and will also discuss our strategies going forward.Victor luis will speak to our asian direct businesses, providing an update on china and other markets in the region.Mike devine will continue with details on financial and operational results of the quarter.Following that, we will hold a question and answer session where we will be joined by mike tucci, president, north american retail.Luke will then conclude with some brief summary comments.I'd now like to introduce lew frankfort, coach's chairman and ceo.Thanks, andrea, and welcome, everyone.As noted in our release this morning, we were very pleased with our quarterly results, including store sales and earnings growth and the continuation of excellent comparable store sales in our north american retail businesses.Our performance clearly demonstrates the brands of vitality across channels, geographies and bodes well for the future.Further, the ability to generate these results in light of the tragic events and their aftermath in japan speaks to the diversification of our business model and the strength of our brand proposition globally.Beyond the top line, we are also very pleased with our high levels of profitability and substantial cash generation.In addition, we make continued progress against our global business initiatives, including international expansion, men's and digital media.We experienced strong response to our new collection, and our pricing and assortment strategy continued to resonate with consumers worldwide.We're well situated to build upon our leadership position and continue to gain market share.Further, the announcement today of the increased dividend reflects our financial strength and our confidence in coach's future.Before i review the quarter and provide an outlook for the category and our business, i would be remiss not to touch on the tragedy in japan.Of course, we have been saddened by the devastation in japan, but we're relieved to learn within days of the earthquake and tsunami that all coach colleagues micheal kors cheap bags was accounted for and safe.When i visited japan early april, i was impressed by the resiliency of the people and the progress made in restoring more normal conditions.And i was moved by the incredible spirit and tenacity of our own coach japan colleagues, who rallied together during a very difficult time.Moving on to some key highlights of our third fiscal quarter.First, earnings per share rose 23% to $0.62 compared with $0.50 in the prior year.Second, quarterly net sales totaled $951 million versus $831 million a year ago, an increase of 14%.Third, direct to consumer sales rose 15% to $832 million from $726 million in the prior year.Fourth, north american same store sales for the quarter are robust, rising 10% from prior year, while total north american direct to consumer sales rose 16%.And fifth, sales in japan were down 9% to prior year in constant currency and rose 1% in dollars.And finally, we continued to generate very strong sales growth and significant double digit comps in china.During the quarter, and as part of our regular real estate review, we closed 3 north american retail stores, while we opened 5 factory stores.Thus, at the end of the period, there were 344 full price and 134 factory stores in operation in north america.Moving to japan.4 locations were opened and 1 was closed.At quarter end, there were 174 total locations in japan with 19 full price stores, including 8 flagships, 119 shop in shops, 29 factory stores and 7 distributor operated travel retail locations.As noted in our release, 7 stores in the sendai area remained closed due to damage at quarter end, with 3 reopened this month.And in china, we added 4 new locations all in the mainland and closed 1 store in hong kong.At the end of the quarter, there were 55 coach locations in china, including 9 in hong kong, 2 in macau and 44 locations on the mainland in 18 cities.As we've discussed previously, there are nearly 120 cities in china with a population of 1 million or more, and we are building a multichannel distribution model with a focus on the mainland to leverage this opportunity.Indirect sales increased 14% to $119 million from $105 million in the same period last year.Department stores given positive pos sales trends in both businesses.Department stores rose 4% for the quarter.Handbag and accessory category rose at a 5% to 10% rate in the third quarter, similar to the increase it experienced in calendar year 2010.At the same time, coach's bag and accessories sales rose about 13% across all channels in north america during the most recent quarter.In our direct businesses in north america, handbag and accessory sales rose 17%.We continue to estimate that the category will increase to $9 billion this year, surpassing its previous peak achieved 3 years ago.Economy is improving.Their intention to purchase coach remains high with over 2/3 of consumers surveyed noting they probably or definitely would purchase a coach product in the next 12 months.Our total revenues in north america rose 16%, with our directly operated businesses up similarly, driven by 10.3% in same store sales increases and new distribution.Fueling these overall store and comp results were similarly strong gains in both channels with significant gains in conversion from prior year and a modest growth in average transaction size, partially offset by a decline in traffic due to the calendar shift.We were particularly pleased with the improvement in conversion rates since it's a driver that we have the most control over in product and service.While we view this channel primarily as a marketing vehicle, traffic and sales at our site continue to grow at a double digit pace during the third quarter, driven by our base business, as well as our efforts in social media where we now have over 1.8 million Facebook fans.Additionally, next month, we're looking forward to the launch of mobile commerce in north america, another digital platform for customers to engage with our brand.As noted in japan, we posted a 1% increase in dollar, a decline of 9% in constant currency.It's worth noting that prior to the events of march 11, we were on track to deliver another quarter of slight growth in yen terms.Our market share further expanded against continued contraction in the category.Once again, i want to call out china, our fastest growing business.During the quarter, our sales continued to rise rapidly from prior year, fueled by distribution growth and significant double digit comps.Clearly, the coach proposition is resonating with this consumer who is participating in this category, increasing numbers.Victor will talk more about our opportunity in china shortly.Across all full price businesses, our robust results reflect the strength of our offering.As always, we maintained a high level of product innovation and distinctive newness.Beginning on december 24, we transitioned to spring with the introduction of the colette collection offered across multiple fabrications and silhouettes anchored by both our hobo and tote styles.This was followed by the relaunch of poppy in february and the new kristin collection in march.With its distinctive hardware and soft feminine styling, kristin is an important collection for coach and has been the feature of our spring ad campaign.This season's product was very well received, and both handbags and women's accessories achieved strong comps in the quarter with handbag penetration in our north american retail stores rising to 60% from 59% last year, driven by unit comp sales increases and a slight increase in average unit retails.Just this month, we introduced the collection of natalie novelty store totes along with new colors and a dream c print and poppy.And last week, we launched audrey, a modern tote story featuring perforated leather, op art and print concepts.Additionally, our lead collection for mothers' day is madison offered in fresh colors and patterns.For june, we're introducing new leather and pattern colors at kristin, as well as a strong new op art print.Our kristin hobo continues to be the key item within the collection.In addition, this july, we will launch a new chelsea collection and evolve poppy with updated styles, patterns and prints.On the factory side, our strong results were fueled by a powerful combination of new product introductions with key styles offered at great prices.Additionally, our inventory investment strategy enabled us to capture sales upside throughout the quarter.Our product assortment was also supported by our in store and direct marketing campaigns.I also wanted to spend a momentwhich are located next to or nearby our most productive factory locations, are performing extremely well.We believe the strong consumer response we're experiencing reflects the strength of the coach brand and the factory consumers' focus on value and function.It confirms our belief that there is a particularly large opportunity for men's in our factory channel.
Via: please click Associated Content articles

Related Articles:
Linked Articles
http://ralphlaura.revolublog.com/everywhere-in-the-the-louboutins-u...
https://streetbshop.streetbaptistclothing.com/later-on-i-table-chea...
http://ralphlaure.zoints.com/blog/view/tolouboutinfemmedesignreswho...