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Coach exceeds profit expectations for Q1

BY Katherine Boccaccio

New York — Coach Inc. reported Tuesday that profit for the quarter ended Sept. 29 rose 3% to $221.4 million, compared with $215 million for the same period last year and beating Wall Street expectations.

Sales surged 11% to $1.16 billion, in line with forecasts, and same-store sales in North America rose 11%, bolstering the luxury retailer’s results for the quarter. In China, same-store sales also rose by double-digits.

“With regard to China, our position is an accessible luxury brand which means our price points are 40-60% lower than the average European luxury brands,” Lew Frankfort, CEO, said. “So our products are more in reach for the emerging middle class.”

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Restoration Hardware IPO to raise about $120 million

BY Staff Writer

Corte Madera, Calif. — Restoration Hardware Holdings Inc. is expected to raise about $120 million from its Initial Public Offering, should it sell the 5.2 million shares at between $22 and $24 each that the retailer said it is expecting to sell.

Restoration Hardware will sell 4.9 million shares in the offering, according to a Reuters report, while selling stockholders will sell the rest.

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Nominations open for Chain Store Age’s Rising Stars awards

BY CSA STAFF

Do you know a retailer under the age of 40 who is making an impact in his or her company? Chain Store Age is accepting nominations for its Rising Stars: 20 under 40 awards, which will recognize retailers who are making their marks in their companies and in the retail industry.

Send in your nominations to editor Marianne Wilson at [email protected]. Please include nominee’s name, title, company, phone number or email address, and a short statement (no more than 200 words) as to why nominee merits recognition as a “Rising Star.”

The deadline for nominations is November 12, 2012. Only nominees who are under 40 as of January 1, 2013, are eligible.

Self-nominations and multiple nominations are accepted.

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