Coach (COH) Tops Q3 EPS by 2c, Maintains FY Guidance

Coach (NYSE: COH) reported Q3 EPS of $0.46, $0.02 better than the analyst estimate of $0.44. Revenue for the quarter came in at $995 million versus the consensus estimate of $1.02 billion.

• Coach Brand North America Comparable Store Sales Increased 3% in the Third Quarter

Fiscal Year 2017 Outlook:

The following fiscal 2017 guidance is provided on a non-GAAP, 52-week basis versus 52-week basis.

The Company is maintaining its operational outlook for fiscal 2017 as outlined in January.

The Company continues to expect revenues for fiscal 2017 to increase low-single digits, including the impact of currency.

In addition, the Company is maintaining its operating margin forecast for Coach, Inc. of between 18.5-19.0% for fiscal 2017. This guidance incorporates the negative impact of both Stuart Weitzman and the strategic decision to elevate the Coach brand’s positioning in the North American wholesale channel, including a reduction in promotional events and the closure of about 25% of doors.

Interest expense is now expected to be in the area of $20 million for the year while the full year fiscal 2017 tax rate is still projected at about 26%.

Taken together, the Company continues to project double-digit growth in both net income and earnings per diluted share for the year.

For earnings history and earnings-related data on Coach (COH) click here.

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