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Coach Inc. (NYSE:COH) claims that its plans remain in line with those that were outlined in July, and it still expects to achieve low to mid single digit comps in North America for the year. The company also claims that comps will be most challenging in Q2, but it believes that comps will strengthen in 2H. Additionally, Coach’s currency will probably be more of a topline growth headwind in 1H, and the company claims that gross margin is planned to improve modestly. The company expects “some compression” in operating margins to about 31 percent, and it sees its FY tax rate in the area of 33 percent.
EI DuPont de Nemours & Co. (NYSE:DD) began a restructuring plan to raise productivity, enhance competitiveness, and accelerate growth. The is intended to deliver pre-tax cost savings of about $450 million, versus $300 million in 2013, through the elimination of corporate costs supporting Performance Coatings and taking additional cost-cutting actions to improve competitiveness. The restructuring plan will eliminate nearly 1,500 global positions during the next 12-18 months. The company continues to be on track for the achievement of its full-year 2012 productivity targets for fixed costs and working capital.
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Whirlpool Corp. (NYSE:WHR): The $275 million final installment to settle the Brazilian collection dispute, $110 million for antitrust payments, pension contributions totaling as much as $ 200 million, and restructuring cash outlays reaching $250 million, has been included in its guidance. “We are increasing our full-year ongoing business operations EPS and free cash flow outlook based on our year-to-date performance and strong momentum we see in the business today,” said the company. “Our margin expansion efforts are working and consumers continue to show preference for our brands and innovative product offerings around the world. We are executing against our long-term growth strategy, investing in areas key to our future success and are well positioned for global industry demand recovery.”
Yahoo! (NASDAQ:YHOO) saw an increase to its highest price in a year after new Chief Executive Officer Marissa Mayer explained her turnaround strategy for the company,which places an emphasis on mobile technology and personalized services. Mayer intends to grow as quickly as competitors in online search, display advertising, mobile applications, and products such as e-mail, she stated yesterday on her first call with analysts since she took the position of CEO in July. Earlier, Yahoo reported its Q3 profit and sales topping analysts’ estimates. The company’s fifth CEO in four years currently has plans to reverse three straight annual sales declines by recharging growth in existing businesses. Mayer wants to focus on small acquisitions costing less than $100 million instead of huge deals, and she plans to move workers around within Yahoo rather than cutting large groups of employees, she claimed.
Microsoft (NASDAQ:MSFT) is to begin selling its Surface tablet in China on October 26. This will be the first day of global sales for the tablet, in a bid to challenge the dominance of Apple Inc. (NASDAQ:AAPL)’s iPad tablet PC. Today, Microsoft’s chief executive officer for the region, Ralph Haupter, inforemed a news agency in Shanghai that there will be no delays for the Surface’s launch in Chinese market. Apple Inc. introduced its iPad in China four months after its introduction to the U.S. market.
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