Coach’s Profit Jumps 34%, Beating Analysts’ Estimates

Coach’s Profit Jumps 34%, Beating Analysts’ Estimates coach factory outlet online Coach Inc., the largest U.S. maker of luxury leather handbags, reported a 34 percent increase in first-quarter profit after luring more shoppers to its stores. The stock climbed the most in 18 months. Net income rose to $188.9 million, or 63 cents a share, the New York-based company said today. That compared with the 55-cent average of estimates compiled by Bloomberg. Sales gained 20 percent to $911.7 million, also topping projections. Chief Executive Officer Lew Frankfort cited “resiliency” in handbags and accessories in North America for the gains. Some U.S. consumers are spending more on discretionary coach factory outlet online goods such as Coach’s Poppy bags, which typically sell for $200 to $400. The company coach online outlet also cut average prices to spur spending. “It’s reflective in part coach outlet sale on coach online outlet the success of their overall pricing strategy that they introduced last summer,” Jennifer Milan, an analyst with Sterne Agee & Leach Inc. in New York, said in a phone interview. She advises investors to buy Coach shares. Coach also boosted sales by expanding in Western Europe and accelerating store openings in China. coach outlet sale This year the company also debuted men’s stand-alone stores and introduced new Charm and Julia totes. The stock rose $5.30, or 12 percent, to $49.78 at 4:00 p.m. in New York Stock Exchange composite trading, the most since April 2009. The shares have climbed 36 percent this year. Comparable-store sales climbed 8.5 percent in North America in the quarter ended Oct. 2. A year earlier, first-quarter profit amounted to $140.8 million, or 44 cents a share. Before it's here, it's on the Bloomberg Terminal. LEARN MORE

emotions reveal just how far he's come to win his first major

Jason Day's emotions reveal just how far he's come to win his first major Emmett Knowlton coach online outlet coach factory outlet online Aug. 17, 2015, 11:40 AM 1,707 1 facebook linkedin twitter email print Jae Hong/AP Jason Day held off Jordan Spieth yesterday to win the the PGA Championship at Whistling Straits by three strokes, finishing at a record-breaking 20 shots below par. The victory marked Day's third win of 2015 but just his first career major despite six career top-5 finishes and second place finishes at both the US Open and the Masters. On the 18th green, as Day waited for Spieth to finish up so that he could tap in and collect the Wanamaker Trophy, he broke down. After the celebration and trophy ceremony, Day spoke candidly about his emotions on the 18th green. If you're wont to dismiss Day's tears as run-of-the-mill waterworks that are increasingly commonplace at trophy ceremonies these days, don't be. Day's journey to the top of PGA Tour is among the more tragic and tumultuous you'll hear about in sports — especially in golf, a sport synonymous with wealth and privilege. As he explained in his press conference, his tears reflected his upbringing and the sacrifices his mother made so that Day could focus on golf  (via ASAP Sports): "Yeah, that's why a lot of emotion came out on 18. That's why a lot of emotion came out for me. Just knowing that, I mean, my mom took a second mortgage out on the coach factory outlet online house, borrowed money from my aunt and uncle, just to get me away from where I was to go to school, seven hours drive. I remember growing up, we -- my mom, I mean, we were poor. We weren't really poor. I mean, I remember watching her cut the lawn with a knife because we couldn't afford to fix the lawn mower. I remember not having a hot water tank, so coach outlet store we had to use a kettle for hot showers. So, you know, we would put the kettle on and go have a shower, and then my mom would come bring three or four kettles in, just to heat them up. And it would take five, ten minutes for every kettle to coach online outlet heat up. So just to be able to sit in front of you guys today and think about those stories, it gets me emotional knowing that I'm the PGA Champion now and it feels good." Day's road to the PGA Tour starts with his father salvaging a 3-wood from the town dump when Day was just a toddler. As Shane Ryan explained in his excellent Grantland profile from 2014: The Days lived in poverty, to the extent that they would often forage for useful items at the town dump. On one trip, Alvin found an old 3-wood and brought it home to his son. Jason was 3, and he took to it immediately, using the club to smash whatever object was handy. This went on until he was 6 and finally met the minimum age requirements at the Beaudesert Golf Club. At that point, he was using a mixed bag of salvaged clubs. Day's father died from stomach cancer was Day was 11, and suddenly he started fighting other kids from his school and drinking so heavily that he became an alcoholic by the time he was 12. Sensing that her son's talent was going to waste, Day's mother took out the second mortgage that he spoke about yesterday so that he could go to a sports-specific boarding school. At Kooralbyn International School, Day met a golf coach named Colin Swatton — now Day's caddie, and the first person he embraced at the 18th hole of Whistling Straits. Jae Hong/AP Since becoming a major name in golf, Day spoken candidly about wanting to play on the PGA Tour more for the money than because he cared about winning. It's rare to hear athletes speak so candidly about the financial incentives of professional sports; usually we hear the generic, safe cliches about playing for greatness and legacy, etc. But Day has been more honest. coachoutletonline As he told Ryan: "I came from a very poor family. So it wasn’t winning that was on my mind when I first came out on the PGA Tour. It was money." “I wanted to play for money, because I’d never had it before.”  Given Day’s childhood, this makes total sense, and so do his emotions on the 18th. NOW WATCH: New aerial footage shows aftermath of explosion in China Loading video... More: Jason Day PGA Tour PGA Championship Golf