Coach's Q2 Sales Surpass Estimates; Nordstrom Sales Up 9 Percent
Sales for Coach Inc.'s second fiscal quarter, which ended Dec. 28, rose 30.9 percent to $308.5 million, the company said yesterday. This exceeded the company's October estimate that Q2 sales would be $290 million.Direct-to-consumer sales increased 19.3 percent to $191.5 million compared with last year's Q2. Comparable-store sales in the quarter rose 12.7 percent, with retail stores up 18.1 percent and factory store sales up 5.8 percent. Indirect sales increased 55.5 percent to $117.1 million from $75.3 million in the same period a year ago.
Coach markets handbags, business cases, weekend and travel accessories, footwear, watches, outerwear, jewelry, sun wear, furniture and related accessories. This is sold through Coach stores, department stores and specialty stores, a catalog and at coach.com.
In other news, Nordstrom Inc., Seattle, posted preliminary sales of $839.2 million in the five-week period ending Jan. 4, an increase of 9.2 percent compared to sales of $768.6 million during the five-week period ending Jan. 5, 2002. Same-store sales increased 3.4 percent. Same-store sales in full-line stores fell 2.3 percent during the Men's Half-Yearly event (Dec. 26-Jan. 6), compared to the same event a year ago. Preliminary quarter-to-date (November -- December) sales of $1.4 billion increased 7.1 percent compared to last year's quarter-to-date sales of $1.3 billion. Quarter-to-date same-store sales increased 1.6 percent. Preliminary year-to-date sales of $5.6 billion increased 6.1 percent compared to last year's year-to-date sales of $5.3 billion. Year-to-date same-store sales increased 1.4 percent.
