Pursuits
Coach Priced Cheap Lifts Takeover Odds: Real M&A
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Coach Inc.’s handbags and heels are offering buyers one of the biggest bargains among luxury brands.
Shares of Coach have lost 17 percent since faster-growing rival Michael Kors Holdings Ltd. went public in 2011 and began an almost threefold rally. Even though Coach has the widest profit margins among peers, the $14 billion company is trading for only 13.6 times earnings, lower than 96 percent of similar-sized rivals, according to data compiled by Bloomberg.