Coach beats 2Q earnings expectations, misses revenue forecasts

StocksAssociated Press

Coach Inc. (COH) on Thursday reported fiscal second-quarter net income of $183.5 million.

The New York-based company said it had profit of 66 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 72 cents per share.

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The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The luxury handbag maker posted revenue of $1.22 billion in the period, missing Street forecasts. Analysts expected $1.23 billion, according to Zacks.

Coach shares have decreased nearly 3 percent since the beginning of the year, while the Standard & Poor's 500 index has declined nearly 3 percent. The stock has declined 25 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COH at http://www.zacks.com/ap/COH

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Keywords: Coach, Earnings Report