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COPYRIGHT 2005 Voxant Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO
MARIA BARTIROMO, CNBC ANCHOR: And of course, Joe, earnings also driving the markets today. Luxury retailer, Coach, today reporting a 53 percent jump in earnings even in the face of a tough macro environment. The company beating expectations both on earnings of $94 million and on revenue. The luxury sector has turned in big profit growth in recent years as a strengthening economy and booming housing market have boosted high-end spending. Revenue coming in at $449 million, up more than 30 percent. For more on the success of Coach, we`re joined now exclusively by the company`s Chairman and CEO, Lew Frankfort.
Nice to have you with us, Mr. Frankfort.
LEW FRANKFORT, CHAIRMAN & CEO, COACH: Glad to be here.
BARTIROMO: Welcome. Well, your company has just outpaced not just the competition, but even really across the different types of retail: upscale, mid-scale, and lower scale as well. How are you doing that?
FRANKFORT: Well, on -- we do have a distinctive proposition. Some years ago we coined the term "accessible luxury" to describe...
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