Page
Number
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REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
|
3
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FINANCIAL
STATEMENTS
|
|
Statements
of Net Assets Available for Benefits as of June 30, 2010 and
2009
|
4
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Statement
of Changes in Net Assets Available for Benefits
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|
For
the Year Ended June 30, 2010
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5
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Notes
to Financial Statements
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6
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SUPPLEMENTAL
SCHEDULE
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Form
5500, Schedule H, Part IV, Line 4i – Schedule of Assets
(Held
|
|
at
End of Year) as of June 30, 2010
|
15
|
|
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Note:
All other schedules required by Section 2520.103-10 of the Department of
Labor’s Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974 have been omitted because
they are not applicable.
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EXHIBITS
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16
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SIGNATURE
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17
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June
30, 2010
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June
30, 2009
|
|||||||
Assets:
|
||||||||
Participant
directed investments, at fair value:
|
||||||||
Common
collective trust fund
|
$ | 15,800,573 | $ | 14,654,760 | ||||
Mutual
funds
|
91,103,837 | 68,110,000 | ||||||
Coach,
Inc. common stock
|
27,960,276 | 21,134,591 | ||||||
Participant
loans receivable
|
3,181,980 | 2,408,885 | ||||||
Total
investments, at fair value
|
138,046,666 | 106,308,236 | ||||||
Receivable:
|
||||||||
Employer
contributions
|
7,340,127 | 6,919,174 | ||||||
Total
assets
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145,386,793 | 113,227,410 | ||||||
Liabilities:
|
||||||||
Administrative
expenses payable
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7,360 | - | ||||||
Net
assets available for benefits, at fair value
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145,379,433 | 113,227,410 | ||||||
Adjustment
from fair value to contract value for
|
||||||||
fully
benefit-responsive investment contracts
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(75,854 | ) | 592,467 | |||||
Net
assets available for benefits
|
$ | 145,303,579 | $ | 113,819,877 |
Year
Ended
|
||||
June
30, 2010
|
||||
Additions:
|
||||
Net
investment income
|
||||
Net
appreciation in fair value of investments
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$ | 14,685,517 | ||
Interest
and dividends
|
2,249,337 | |||
16,934,854 | ||||
Contributions:
|
||||
Participants
|
10,914,208 | |||
Employer
|
11,665,290 | |||
Participant
rollovers
|
1,016,436 | |||
23,595,934 | ||||
Total
additions
|
40,530,788 | |||
Deductions:
|
||||
Participant
withdrawals and benefit payments
|
8,802,767 | |||
Administrative
expenses
|
237,199 | |||
Deemed
distributions
|
7,120 | |||
Total
deductions
|
9,047,086 | |||
Net
increase in net assets available for benefits
|
31,483,702 | |||
Net
assets available for benefits:
|
||||
Beginning
of year
|
113,819,877 | |||
End
of year
|
$ | 145,303,579 |
1.
|
Description
of Plan
|
Employer
Matching Contributions
|
||||||||
Years
of
Service for Vesting |
Employee
Contributions
|
Non-Highly
Compensated Employees |
Highly
Compensated Employees |
Employer
Profit
Sharing Contributions |
||||
Immediate
|
100%
|
100%
|
-
|
-
|
||||
1
|
-
|
-
|
20%
|
-
|
||||
2
|
-
|
-
|
40%
|
-
|
||||
3
|
-
|
-
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60%
|
100%
|
||||
4
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-
|
-
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80%
|
-
|
||||
5
|
-
|
-
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100%
|
-
|
2.
|
Summary
of Significant Accounting Policies
|
3.
|
Investments
|
Shares
|
Fair
Value
|
|||||||||||||||
June
30,
|
June
30,
|
June
30,
|
June
30,
|
|||||||||||||
Fund
|
2010
|
2009
|
2010
|
2009
|
||||||||||||
Coach,
Inc. Common Stock
|
764,967 | 786,219 | $ | 27,960,276 | $ | 21,134,591 | ||||||||||
Fidelity
Balanced Fund
|
582,070 | 583,740 | 9,313,121 | 8,265,760 | ||||||||||||
Fidelity
Diversified International Fund
|
372,296 | 323,195 | 9,046,801 | 7,530,438 | ||||||||||||
Fidelity
Managed Income Portfolio*
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15,724,719 | 15,247,227 | 15,800,573 | 14,654,760 | ||||||||||||
Neuberger
Berman Genesis Trust
|
336,813 | 327,863 | 12,933,634 | 10,645,724 | ||||||||||||
Spartan
U.S. Equity Index Fund
|
251,504 | 239,923 | 9,217,610 | 7,845,472 | ||||||||||||
Fidelity
U.S. Bond Index Fund
|
637,149 | 509,122 | 7,301,722 | 5,518,886 |
Net
appreciation in fair value:
|
||||
Fund
Types
|
||||
Blended
Fund Investments
|
$ | 2,982,899 | ||
Bond
Fund Investments
|
356,240 | |||
Stock
Fund Investments
|
3,755,924 | |||
Coach,
Inc. Common Stock
|
7,590,454 | |||
Net
appreciation in fair value of investments
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$ | 14,685,517 |
4.
|
Exempt
Party-In-Interest Transactions
|
5.
|
Federal
Income Tax Status
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6.
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Plan
Termination
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7.
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Fair
Value Measurements
|
Level
1
|
Level
2
|
Level
3
|
||||||||||||||||||||||
June
30,
|
June
30,
|
June
30,
|
June
30,
|
June
30,
|
June
30,
|
|||||||||||||||||||
2010
|
2009
|
2010
|
2009
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2010
|
2009
|
|||||||||||||||||||
Equity
Securities
|
||||||||||||||||||||||||
Coach
Common stock
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$ | 27,960,276 | $ | 21,134,591 | $ | - | $ | - | $ | - | $ | - | ||||||||||||
Mutual
Funds
|
||||||||||||||||||||||||
Blended
Fund Investments
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46,530,242 | 36,643,448 | - | - | - | - | ||||||||||||||||||
Bond
Fund Investments
|
7,301,722 | 5,518,886 | - | - | - | - | ||||||||||||||||||
Stock
fund Investments
|
37,271,873 | 25,947,666 | - | - | - | - | ||||||||||||||||||
Common
collective trust
fund
|
- | - | 15,800,573 | 14,654,760 | - | - | ||||||||||||||||||
Participant
loans
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- | - | - | - | 3,181,980 | 2,408,885 | ||||||||||||||||||
Total
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$ | 119,064,113 | $ | 89,244,591 | $ | 15,800,573 | $ | 14,654,760 | $ | 3,181,980 | $ | 2,408,885 |
Participant
Loans
|
||||
Balance
at June 30, 2009
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$ | 2,408,885 | ||
Purchases,
issuances and settlements
|
773,095 | |||
Balance
at June 30, 2010
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$ | 3,181,980 |
8.
|
Reconciliation
to Form 5500
|
June
30, 2010
|
June
30, 2009
|
|||||||
Net
assets available for benefits per financial statements
|
$ | 145,303,579 | $ | 113,819,877 | ||||
Adjustment
from contract value to fair value for fully
|
||||||||
benefit-responsive
investment contracts
|
75,854 | (592,467 | ) | |||||
Net
assets available for benefits per Form 5500
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$ | 145,379,433 | $ | 113,227,410 |
June 30,
2010
|
||||
Increase in net assets, per
financial statements
|
$ | 31,483,702 | ||
Add: Change in the adjustment from
contract value to
|
||||
fair value for fully
benefit-responsive investment contracts
|
668,321 | |||
Increase in net assets, per Form
5500
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$ | 32,152,023 |
(a)
|
(b)
Identity of Issuer, Borrower,
Lessor or Similar Party |
(c)
Description of Investment Including
Maturity Date, Rate of Interest, Collateral, Par or Maturity Value |
(d)
Cost
|
(e)
Current Value
|
||||||
American
Funds Growth Fund
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Mutual
fund, 239,227 shares
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**
|
$
|
5,966,321
|
||||||
*
|
Fidelity
Balanced Fund
|
Mutual
fund, 582,070 shares
|
**
|
9,313,121
|
||||||
*
|
Fidelity
Diversified International Fund
|
Mutual
fund, 372,296 shares
|
**
|
9,046,801
|
||||||
*
|
Fidelity
Freedom 2000 Fund
|
Mutual
fund, 32,745 shares
|
**
|
372,312
|
||||||
*
|
Fidelity
Freedom 2005 Fund
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Mutual
fund, 10,339 shares
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**
|
101,424
|
||||||
*
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Fidelity
Freedom 2010 Fund
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Mutual
fund, 52,372 shares
|
**
|
636,843
|
||||||
*
|
Fidelity
Freedom 2015 Fund
|
Mutual
fund, 172,155 shares
|
**
|
1,740,488
|
||||||
*
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Fidelity
Freedom 2020 Fund
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Mutual
fund, 205,874 shares
|
**
|
2,474,601
|
||||||
*
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Fidelity
Freedom 2025 Fund
|
Mutual
fund, 253,601 shares
|
**
|
2,500,506
|
||||||
*
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Fidelity
Freedom 2030 Fund
|
Mutual
fund, 333,996 shares
|
**
|
3,897,739
|
||||||
*
|
Fidelity
Freedom 2035 Fund
|
Mutual
fund, 478,790 shares
|
**
|
4,586,812
|
||||||
*
|
Fidelity
Freedom 2040 Fund
|
Mutual
fund, 880,877 shares
|
**
|
5,875,449
|
||||||
*
|
Fidelity
Freedom 2045 Fund
|
Mutual
fund, 425,909 shares
|
**
|
3,351,901
|
||||||
*
|
Fidelity
Freedom 2050 Fund
|
Mutual
fund, 284,211 shares
|
**
|
2,191,271
|
||||||
*
|
Fidelity
Freedom Income Fund
|
Mutual
fund, 40,945 shares
|
**
|
440,974
|
||||||
*
|
Fidelity
Managed Income Portfolio
|
Common
collective trust fund, 15,724,719 shares
|
**
|
15,800,573
|
||||||
*
|
Fidelity
U.S. Bond Index Fund
|
Mutual
fund, 637,149 shares
|
**
|
7,301,722
|
||||||
Munder
Mid-Cap Core Growth Class Y
|
Mutual
fund, 173,447 shares
|
**
|
3,892,155
|
|||||||
Neuberger
Berman Genesis Trust
|
Mutual
fund, 336,813 shares
|
**
|
12,933,634
|
|||||||
*
|
Spartan
U.S. Equity Index Fund
|
Mutual
fund, 251,504 shares
|
**
|
9,217,610
|
||||||
Victory
SPL Value I
|
Mutual
fund, 17,395 shares
|
**
|
223,701
|
|||||||
MFS
Value Fund Class R4
|
Mutual
fund, 263,380 shares
|
**
|
5,038,452
|
|||||||
*
|
Coach,
Inc. Common Stock
|
Common
stock, 764,967 shares
|
**
|
27,960,276
|
||||||
*
|
Participant
loans
|
Loans
to participants with interest rates
|
||||||||
ranging
from 3.25% to 8.25% and with
|
||||||||||
maturity
dates to April 6, 2020.
|
3,181,980
|
|||||||||
Total
|
$
|
138,046,666
|
||||||||
*
Represents a party-in-interest to the Plan
**
Not required as the investment is
Participant-directed
|
Exhibit
Number
|
Description
|
23.1
|
Consent
of Independent Registered Public Accounting
Firm
|
/s/ Sarah Dunn.
Sarah
Dunn
Plan
Administrator
December
15, 2010
|
|