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Coach Beats Second Quarter Profit Forecasts

Coach Inc. on Tuesday reported fiscal second-quarter profit of $199.7 million.
By
  • Associated Press

NEW YORK, United States — Coach Inc. on Tuesday reported fiscal second-quarter profit of $199.7 million.

On a per-share basis, the New York-based company said it had net income of 71 cents. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, were 75 cents per share.

The results exceeded Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.

The luxury handbag maker posted revenue of $1.32 billion in the period, which met Street forecasts.

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Coach shares have climbed roughly 3 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 2 percent. The stock has increased slightly in the last 12 months.

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