Mr. Frankfort continued, “Leveraging the underlying strength of our North American business we implemented a significant shift in our pricing strategy in factory stores during the quarter, as we eliminated in-store couponing across our network. Our new “no math” pricing structure provides us with greater marketing flexibility, enabling us to balance productivity gains and margin improvement. Complementing this strategy, we broadened our e-commerce factory programs and continued to refine our initiatives across all aspects of digital media.”“Internationally, our directly-operated businesses are also growing rapidly with China continuing to post excellent gains, remaining on course to generate at least $300 million in sales this year. As previously noted, in January we took control of our domestic retail business in Taiwan, and will be acquiring our Malaysian retail business in July. In addition, we are very pleased to announce that we have signed an agreement to take control of our domestic retail business in Korea effective in early FY13.”
Coach Reports Third Quarter Earnings Of $0.77, Up 24% On A 17% Sales Increase
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