Business Context and Reporting Period
Company: Coach, Inc. (Note: The filing metadata references "TAPESTRY, INC.", but the document text identifies the registrant as Coach, Inc.)
Filing Type: Form 8-K (Current Report)
Date of Report: October 28, 2014
Reporting Period: Fiscal quarter ended September 27, 2014
Item Reported: Item 2.02 Results of Operations and Financial Condition
Key Financial Metrics
The filing serves as a cover document referencing a press release (Exhibit 99.1) containing the detailed financial results. The text of the 8-K itself does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It confirms that the attached press release includes both GAAP and Non-GAAP metrics, specifically:
- Net income and diluted net earnings per share
- Operating income and operating margin
- Gross profit and gross margin
- Income before provision for income taxes
- SG&A expense and SG&A expense ratio
- Net sales percentage changes (including and excluding currency fluctuation effects)
Material Changes
The filing text does not disclose specific material changes or year-over-year performance figures. It notes that the press release presents sales increases/decreases for the Company, its International segment, and Coach Japan, adjusted for currency fluctuation effects to aid comparability.
Guidance, Outlook, and Risks
The filing text does not contain specific guidance, outlook, management commentary, or risk factors. It states that the press release includes Non-GAAP financial information to help investors understand the impact of certain items on comparability and the effect of significant year-over-year currency fluctuations.
Investor Verification Checklist
- Review Exhibit 99.1 (Text of Press Release) for specific revenue, earnings, and margin figures, as they are not included in the 8-K body text.
- Verify the distinction between GAAP and Non-GAAP results, particularly regarding items affecting comparability.
- Check the currency-adjusted sales growth figures for the International segment and Coach Japan.
- Confirm the specific "certain items" excluded from Non-GAAP calculations to assess the quality of earnings.