michael kors boots
Uncategorized / April 15, 2017

Its cyclical feature for a consumer discretionary company made it bounce again to reach all-time highs at $77 in 2012 until a new crisis hit the company, but this time for internal reasons. Indeed, sales decreased by -11% from 2013 to 2016 whereas EBIT margins strongly deteriorated from 30% to 15% and net profit from 20% to 10%. The main reason, as mentioned previously, new entrants in its core category (women’s handbags) in the US but we shouldn’t only blame competitors. Coach started losing its shine and luxury image due to aggressive discounting campaigns for value-oriented customers and an increasing footprint of North American outlet stores (from 120 to 210 within the last 5 years). This Exhibit is furnished to comply with Item 2.02 and Item 9.01 of Form 8-K. The attached Exhibit is not to be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall the attached Exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933 (except as shall be expressly set forth by specific reference in such filing).The Company noted that fiscal year 2016 had 53 weeks versus 52 weeks in fiscal year 2015. As…