Coach Posts Better-than-expected Quarterly Profit On Lower Sales

By MarketWatch Pulse

Coach Inc. on Tuesday reported quarterly profit that came in higher than Wall Street's consensus estimate, although sales skirted below expectations. The luxury-goods maker said fiscal first-quarter profit was $96.4 million, or 35 cents a share, compared with $119.1 million, or 43 cents a share, a year ago. Adjusted per-share earnings of 41 cents were higher than 40 cents a share expected in a FactSet poll of analysts. Sales were $1.030 billion compared with $1.038 billion in the year-earlier period. Analysts had expected revenue of $1.038 billion. Coach shares were up 4.9% in thin premarket trading following the report. The stock this year has lost 19%.

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