Coach 2008 Annual Report Download - page 13

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TABLE OF CONTENTS
governmental regulation and trade restrictions, including U.S. retaliation against certain prohibited foreign practices, with respect to its
product sourcing and international sales operations.
Competition
The premium handbag and accessories industry is highly competitive. The Company mainly competes with European luxury brands
as well as private label retailers, including some of Coach’s wholesale customers. Over the last several years the category has grown,
encouraging the entry of new competitors as well as increasing the competition from existing competitors. However, the Company believes
that as a market leader we benefit from this increased competition as it drives consumer interest in this brand loyal category.
The Company believes that there are several factors that differentiate us from our competitors, including but not limited to: distinctive
newness, innovation and quality of our products, ability to meet consumer’s changing preferences and our superior customer service.
Employees
As of June 27, 2009, Coach employed approximately 12,000 people, including both full and part time employees. Of these employees,
approximately 4,100 and 5,900 were full time and part time employees, respectively, in the retail field in North America, Japan, Hong
Kong, Macau, and mainland China. Approximately 50 of Coach’s employees are covered by collective bargaining agreements. Coach
believes that its relations with its employees are good, and it has never encountered a strike or work stoppage.
Financial Information About Geographic Areas
Geographic information is presented in Note 14 to the Consolidated Financial Statements.
Available Information
Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and all amendments to these
reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, are available free of charge on our
website, located at www.coach.com, as soon as reasonably practicable after they are filed with or furnished to the Securities and Exchange
Commission. These reports are also available on the Securities and Exchange Commission’s website at www.sec.gov. No information
contained on any of our websites is intended to be included as part of, or incorporated by reference into, this Annual Report on Form 10-K.
The Company has included the Chief Executive Officer (“CEO”) and Chief Financial Officer certifications regarding its public
disclosure required by Section 302 of the Sarbanes-Oxley Act of 2002 as Exhibit 31.1 to this report on Form 10-K. Additionally, the
Company filed with the New York Stock Exchange (“NYSE”) the CEO’s certification regarding the Company’s compliance with the
NYSE’s Corporate Governance Listing Standards (“Listing Standards”) pursuant to Section 303A.12(a) of the Listing Standards, which
indicated that the CEO was not aware of any violations of the Listing Standards by the Company.
Item 1A. Risk Factors
You should consider carefully all of the information set forth or incorporated by reference in this document and, in particular, the
following risk factors associated with the Business of Coach and forward-looking information in this document. Please also see
“Special Note on Forward-Looking Information” at the beginning of this report. The risks described below are not the only ones we
face. Additional risks not presently known to us or that we currently deem immaterial may also have an adverse effect on us. If any of
the risks below actually occur, our business, results of operations, cash flows or financial condition could suffer.
The current economic conditions could materially adversely affect our financial condition and results of operations.
The current economic crisis is having a significant negative impact on businesses around the world. Our results can be impacted by a
number of macroeconomic factors, including but not limited to consumer confidence and spending levels, unemployment, consumer credit
availability, fuel and energy costs, global factory production, commercial real estate market conditions, credit market conditions and the
level of customer traffic in malls and shopping centers.
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