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Coach 4Q Net Rises 3.6% On Strong North America Sales

DOW JONES NEWSWIRES Coach Inc.'s (COH) fiscal fourth-quarter earnings rose 3.6% from a year-earlier quarter that included an extra week as North American sales continued to rise. The luxury handbag, accessories and leather-goods maker has posted double-digit profit growth in recent quarters on the strength of its North American direct-to-consumer businesses and global expansion. The company is also broadening its men's business with more male-oriented products and by opening men's stores in the U.S. and Japan. But Coach had warned that the March 11 earthquake and tsunami in Japan would lower fiscal fourth-quarter sales by about $20 million and earnings by 2 to 3 cents a share. For the quarter ended July 2, Coach reported a profit of $202.5 million, or 68 cents a share, up from $195.5 million, or 64 cents, a year earlier. The extra week added about 8 cents to last year's per-share earnings. Sales jumped 8.5% to $1.03 billion. Analysts polled by Thomson Reuters had most recently forecast earnings of 65 cents on revenue of $1.01 billion. Gross margin fell to 71.8% from 73.3%. Direct-to-consumer sales increased 9%, or 18% on a comparable basis to exclude the extra week last year. Same-store sales, on a comparable basis, rose 10.1% in North America. Same-store sales fell 2% in Japan, reflecting the stronger yen. Shares slipped 1% to $64.65 premarket. The stock has risen 70% over the past year. -By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stock News for Coach (COH)
DateTimeHeadline
11/17/201606:45:00Coach Announces Opening of ‘Coach House’ on Fifth Avenue in...
11/15/201606:45:00Coach, Inc. Declares Quarterly Cash Dividend
11/14/201617:11:56Statement of Changes in Beneficial Ownership (4)
11/14/201617:11:40Statement of Changes in Beneficial Ownership (4)
11/14/201617:11:40Statement of Changes in Beneficial Ownership (4)
11/14/201617:11:40Statement of Changes in Beneficial Ownership (4)
11/14/201617:11:40Statement of Changes in Beneficial Ownership (4)
11/14/201617:11:40Statement of Changes in Beneficial Ownership (4)
11/14/201617:11:40Statement of Changes in Beneficial Ownership (4)
11/14/201617:11:14Statement of Changes in Beneficial Ownership (4)
11/10/201616:37:48Current Report Filing (8-k)
11/10/201616:32:53Securities Registration: Employee Benefit Plan (s-8)
11/08/201618:16:36Statement of Changes in Beneficial Ownership (4)
11/02/201603:03:00Coach's Sales Hit by Strategy Shift -- WSJ
11/01/201612:55:00Coach's Sales Slowed by Shift Away From Department Stores...
11/01/201609:37:00U.S. Hot Stocks: Hot Stocks to Watch
11/01/201608:50:00Coach Posts Same-Store Sales Growth
11/01/201608:41:00Coach Posts Same-Store Sales Growth Amid Turnaround Effort
11/01/201606:46:36Current Report Filing (8-k)
11/01/201603:02:00Ahead of the Tape: Refashioning at Coach Showing Promise -- WSJ

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