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Could Burberry’s Weak Q1 Signal Trouble for Coach and Ralph Lauren? (COH, RL)
Luxury retailers Coach, Inc. ( COH ) and Ralph Lauren Corp ( RL ) could be in focus for investors on Wednesday, following British luxury clothing maker Burberry's earnings miss.
Burberry posted weaker-than-expected fiscal first quarter earnings on Wednesday, sending its shares plunging nearly 8% in trading on the London Stock Exchange. Now speculation naturally turns to COH and RL, both of which produce luxury products in a similar class to Burberry.
Both Coach and Ralph Lauren shares were mostly flat in premarket trading Wednesday.
The Bottom Line
Shares of Coach ( COH ) have a 2.11% dividend yield, based on last night's closing stock price of $56.91. The stock has technical support in the $52-$55 price area. If the shares can firm up, we see overhead resistance around the $60-$62 price levels. Shares of Ralph Lauren ( RL ) have a 1.11% dividend yield, based on last night's closing stock price of $143.70. The stock has technical support in the $135-$140 price area. If the shares can firm up, we see overhead resistance around the $150-$152 price levels.
Coach, Inc. ( COH ) and Ralph Lauren Corp ( RL ) are both currently rated "Neutral" by Dividend.com.