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Coach Inc. (COH) filed Quarterly Report for the period ended 2011-12-31.
Coach Inc. has a market cap of $21.12 billion; its shares were traded at around $73.21 with a P/E ratio of 22.5 and P/S ratio of 5.1. The dividend yield of Coach Inc. stocks is 1.2%. Coach Inc. had an annual average earning growth of 28.5% over the past 10 years. GuruFocus rated Coach Inc. the business predictability rank of 3.5-star.
This is the annual revenues and earnings per share of COH over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of COH.
Highlight of Business Operations:
Selling, general and administrative expenses increased 17.9% to $544.3 million in the second quarter of fiscal 2012 as compared to $461.8 million in the second quarter of fiscal 2011, driven primarily by increased selling expenses and investments in our digital and e-commerce infrastructure. Excluding items affecting comparability of $20.3 million during the second quarter of fiscal 2012, selling, general and administrative expenses were $524.0 million. As a percentage of net sales, selling, general and administrative expenses increased to 37.6% during the second quarter of fiscal 2012 as compared to 36.5% during the second quarter of fiscal 2011. Excluding items affecting comparability during the second quarter of fiscal 2012, selling, general and administrative expenses as a percentage of net sales were 36.2% as we leveraged our selling expense base on higher sales.Administrative expenses were $85.2 million, or 5.9% of net sales, in the second quarter of fiscal 2012 compared to $60.1 million, or 4.8% of net sales, during the same period of fiscal 2011. Excluding items affecting comparability of $20.3 million during the second quarter of fiscal 2012, administrative expenses were $64.9 million, representing 4.5% of net sales. During the second quarter of fiscal 2012 the Company increased headcount and systems investment, largely due to our international expansion.
Selling, general and administrative expenses increased 15.8% to $987.0 million in the first six months of fiscal 2012 as compared to $852.4 million in the first six months of fiscal 2011. Excluding items affecting comparability of $20.3 million during the first six months of fiscal 2012, selling, general and administrative expenses were $966.7 million, driven primarily by increased selling expenses and investments in our digital and e-commerce infrastructure. As a percentage of net sales, selling, general and administrative expenses increased to 39.5% during the first six months of fiscal 2012 as compared to 39.2% during the first six months of fiscal 2011. Excluding items affecting comparability during the first six months of fiscal 2012, selling, general and administrative expenses as a percentage of net sales decreased to 38.7% as we leveraged our selling expense base on higher sales.
Administrative expenses were $151.1 million, or 6.0% of net sales, in the first six months of fiscal 2012 compared to $117.6 million, or 5.4% of net sales, during the same period of fiscal 2011. Excluding items affecting comparability of $20.3 during the first six months of fiscal 2012, expenses were $130.8 million, representing 5.2% of net sales. During the first six months of fiscal 2012 the Company increased headcount and systems investment, largely due to our international expansion.
Net cash used in investing activities was $82.3 million in the first six months of fiscal 2012 compared to $108.8 million in the first six months of fiscal 2011. This $26.5 million decrease in net cash used was largely driven by the timing of short-term investments and planned capital investment. Proceeds from maturities and sales of investments, net of purchases of investments, resulted in a cash source of $2.3 million in the current fiscal period, compared to a cash usage of $55.7 million in the prior fiscal period. Purchases of property and equipment were $70.2 million in the current fiscal period, which was $21.0 million higher than the prior year period, reflecting planned increased capital investment. In addition, during the second quarter of fiscal 2012, the Company provided $6.8 million of loan advances in connection with its European joint venture operations, to fund expansion plans in the region.
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