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美国作业代写:Financial analysis on Coach, Inc.

2017-06-12 来源: 51due教员组 类别: Paper范文

下面为大家整理一篇优秀的paper代写范文- Financial analysis on Coach, Inc.,供大家参考学习,这篇论文分析了Coach公司的财务。Coach是美国高端生活方式时尚品牌,为男士、女士提供精致配饰与礼品,产品系列包括皮具、鞋履、服饰、手表时尚首饰等。近几年,Coach的总体财务状况不太好,总收入相对于以前下降了很多,它在高端市场上几乎失去了品牌声誉。总的来说,除了利润严重下降之外,该公司在业务上仍做得比较满意。

Coach,assignment代写,paper代写,美国作业代写

Part I Background information about Coach

Coach is an American luxury brand that sales and distributes handbags, clothing, shoes, accessories, fragrance, jewelry and etc. Headquartered in New York, the firm was founded in 1941 by Lillian and Miles Cahn. The CEO is Victor Luis and the Chairman of the Board is JideZeitlin now. The firm is traded on the New York Stock Exchange with stock ticker COH. It is also a component of the S&P 500.

The history of the firm is more than 50 years. By 1950, the Cahn couples had taken over the business. From 1961 to 1974, Bonnie Cashin, the main designer joined Coach and revolutionized the product’s design. In the 1980s, Coach was sold to Sara Lee and the firm is structured under the Hanes Group. From 2013 to now, the brand has seen many changes in leadership, in the competitive landscape and has faced some difficulties in terms of profitability.

In the luxury brand industry, there is high competition and the customers are sometimes loyal to certain brands. The industry is cyclical and moves with the overall economic conditions. When there is a recession and people’s purchasing power decreases, elastic products such as luxury brands may incur significant drop in revenue. There are many competitors such as Louis Vuitton, Hermes, Christian Dior, Pandora, Tiffany, Prada, Burberry, Salvatore Ferragamo, Dolce &Gabbana, Gucci, Armani, Chanel, and etc.

One recent fact about Coach is that it is losing its brand reputation in the high end market because it is now not as luxury as it was years ago. Due to the fact that they saw a decrease a sales in the past few years, they increased their discounts in outlets to generate more sales. However, outlets is a place where one can easily lose its sense of luxury and people will not associate Coach with a more affordable image.

Part II Financial analysis

2.1 Horizontal analysis---Statement of operations

2.2 Horizontal analysis---Balance sheet

2.3 Vertical analysis---Statement of operations

2.4 Vertical analysis---Balance sheet

2.5 Ratios analysis

Note: market price per share is $37.86 at Dec 6, 2016, 4pm, the time this report is written. This number is used to calculate price-earnings ratio and dividend yield. Source: Yahoo Finance.

Part III Assessment and future outlook

Based on the tables in the previous section, I conclude that the overall financial health for Coach is not as good as previous’ years. The total revenue for 2014 decreased relative to 2013 and the net income decreased even further. Although the size of the firm, indicated by the total assets, is larger than 2013, the growth is not significant and a growth in size without growth in net income suggests that the firm is not efficient in utilizing its assets. Its net income per share also decreased about the same percentage as the net income, suggesting that shareholders will not be so satisfied with this stock.

The ratios look fine now because the liquidity ratios are all above one, suggesting that Coach is still able to pay back its liabilities. The turnovers and the cash conversion cycle needs to be compared with its industry peers to determine whether Coach is doing a good job in terms of efficiency or not. The dividend yield and the dividends paid out for those years exhibited a steady and increasing trend.

Overall, apart from a serious decline in profitability, the firm is still doing a relatively satisfactory job in its operations.

The future for Coach will be relatively hard because as I analysed in the first section, it is facing the problem of losing its position in the luxury brands and will shift more to the middle to high end customers. Once its losses its brand image, it will be hard to come back to the luxury hierarchy. The stock price also indicated that Coach is not doing as well as the other competitors over the past few years. With a current stock price of $37, it will be fluctuating with the market next year and will probably vary even more than the S&P 500 since the demand is very elastic. The CEO of Coach has many things to do before it can bring Coach back into the successful and luxury brand.

Reference

Coach Official website. Retrieved Dec 07, 2016. Retrieved fromhttps://www.coach.com/

Coach Financial Report, 2014. Retrieved Dec 07, 2016. Retrieved from http://www.coach.com/financial-reports.html

Morning Star Database. Retrieved Dec 07, 2016. Retrieved from http://financials.morningstar.com/competitors/industry-peer.action?t=COH

Yahoo Finance. Retrieved Dec 07, 2016.Retrieved fromhttp://finance.yahoo.com/q;_ylt=AwrBT8NavkdY7fcAXi5XNyoA;_ylu=X3oDMTExZzQ0YmY1BGNvbG8DYmYxBHBvcwMxBHZ0aWQDVUlDMV8xBHNlYwNzYw--?s=COH

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