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NEW YORK, United States — Coach Inc. on Tuesday reported fiscal third-quarter net income of $112.5 million.
On a per-share basis, the New York-based company said it had profit of 40 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 44 cents per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The luxury handbag maker posted revenue of $1.03 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $1.02 billion.
Coach shares have risen 23 percent since the beginning of the year, while the Standard & Poor's 500 index has increased two percent. The stock has declined five percent in the last 12 months.
