Coach Q1 profits down on weak U.S. sales
New York — Coach reported a decline in first-quarter profit amid declining North America sales. The company had net income of $217.88 million, down from $221.38 million in the previous year.
Net sales for the quarter fell 1% to $1.15 billion from $1.16 billion a year ago, below analysts’ estimate of $1.19 billion.
In North America, total sales fell 1% to $778 million, and same-store sales were down 6.8%. International sales edged down to $365 million. On a constant currency basis, International sales rose about 9% from the prior year.
“Beginning now and throughout the holiday season, consumers will see a fuller expression of the Coach brand, with the arrival of a limited edition capsule collection across all product categories,” said Coach president and chief commercial officer Victor Luis, who, in a previously announced change, will assume the CEO role from Lew Frankfort in January.
Luis said that the company will soon unveil a new store concept in New York and Southern California. “Our intent is to drive brand relevance and increase Coach’s resonance with our consumers,” Luis said.
ComScore: Back-to-school boosts retail site traffic in September
Reston, Va. – The start of the annual school year drove U.S. consumer traffic at retail sites in September. According to comScore MediaMetrix data, retail computer software sites were the third-most-visited website category in September 2013 with about 64.3 million unique U.S. visitors, up 12% from 57.3 million the prior month.
In addition, flower/gift/greeting retail sites ranked seventh with 18.1 million unique U.S. visitors, up 9% from 16.7 million in August. Computer hardware retail sites ranked with about 67.2 million unique U.S. visitors, an 8% increase from 62 million the previous month.
Retail sites that ranked on the 50 most-visited sites among U.S. consumers during September included Amazon sites (No. 6 with 110.8 million unique U.S. visitors) and eBay (No. 13 with 69 million unique U.S. visitors).
Photopon app lets consumers send personalized coupons
Hackettstown, N.J. – Custom couponing app Photopon is releasing version 2 of its iOS app, which lets consumers select nearby deals, attach a personal photo and write a message to create a personalized coupon that can be shared through the app, email, text messages or social networking sites.
Using the iPhone’s location services, Photopon presents a selection of deals from the nearest restaurants, bars, stores and venues. After choosing a deal, users can snap a photo, type in a message and then share the custom coupon through email, text messages, Facebook or Twitter. Recipients can redeem the coupon. Photopon offers deals from both individual businesses and coupon aggregators.
"Photopon is a clever way to invite people out, make plans or even joke around with friends," said Michael Gutkin, co-founder and CFO of Photopon, Inc. "There are plenty of deals out there, but Photopon provides the only coupons that are open to creativity and flair. This means that a Photopon referral can be relevant and unique in ways that normal digital deals or paper coupons cannot be."