SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): May 2, 2002
Coach, Inc.
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(Exact name of registrant as specified in its charter)
Maryland 1-16153 52-2242751
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(State of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
516 West 34th Street, New York, NY 10001
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(Address of principal executive offices) (Zip Code)
(212) 594-1850
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(Registrant's telephone number, including area code)
Item 4. Changes in Registrant's Certifying Accountant.
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On May 2, 2002, the Board of Directors of the Registrant, upon
recommendation of its audit committee, engaged Deloitte & Touche LLP ("Deloitte
& Touche"), independent accountants, as the principal accountant to audit the
Registrant's financial statements for the fiscal year ending June 29, 2002. The
Board of Directors decided not to reengage Arthur Andersen LLP ("Arthur
Andersen") for fiscal year 2002. Arthur Andersen audited the Registrant's
financial statements for fiscal years 1999, 2000 and 2001. Prior to that time,
Coach operated as a division of Sara Lee Corporation, following its acquisition
in fiscal year 1986. During that time, Arthur Andersen served as the principal
accountant of Sara Lee Corporation.
In connection with its audit for fiscal years 2000 and 2001, and during
the subsequent interim period preceding the engagement of Deloitte & Touche,
there were no disagreements with Arthur Andersen on any matter of accounting
principles or practices, financial statement disclosure or auditing scope or
procedure. Arthur Andersen's report on the financial statements for fiscal years
2000 and 2001 did not contain an adverse opinion or a disclaimer of opinion and
was not qualified or modified as to uncertainty, audit scope or accounting
principles.
During the last two fiscal years, and during the subsequent interim
period preceding the engagement of Deloitte & Touche, Arthur Andersen did not
advise, and has not indicated to the Registrant that it had reason to advise,
the Registrant of any reportable event, as defined in Item 304(a) of Regulation
S-K of the Exchange Act.
The Registrant has provided Arthur Andersen a copy of the foregoing
disclosures. Attached as Exhibit 16.1 to this Current Report on Form 8-K is a
copy of Arthur Andersen's letter, dated May 6, 2002, stating its agreement with
the foregoing disclosures.
During the last two fiscal years, and during the subsequent interim
period preceding the engagement of Deloitte & Touche, the Registrant had not
consulted Deloitte & Touche regarding the application of accounting principles
to a specified transaction, either contemplated or proposed, or the type of
audit opinion that might be rendered on the Registrant's financial statements or
any other matter that would be required to be reported in this Current Report on
Form 8-K.
2
Item 7. Exhibits.
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16.1 Arthur Andersen's letter, dated May 6, 2002, stating its
agreement with the disclosures in this Current Report on Form 8-K.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: May 8, 2002
COACH, INC.
By: /s/ Carole P. Sadler
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Carole P. Sadler
Senior Vice President, General Counsel
and Secretary
EXHIBIT INDEX
16.1 Arthur Andersen's letter, dated May 6, 2002, stating its agreement
with the disclosures in this Current Report on Form 8-K.
EXHIBIT 16.1
Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
May 6, 2002
Dear Sir/Madam:
We have read the first four (4) paragraphs of Item 4 included in the Current
Report on Form 8-K dated May 2, 2002 of Coach, Inc. to be filed with the
Securities and Exchange Commission and are in agreement with the statements
contained therein.
Very truly yours,
/s/ Arthur Andersen LLP
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Arthur Andersen LLP
cc: Michael F. Devine, III
Senior Vice President and Chief Financial Officer
Coach, Inc.