Coach, Inc. (COH) Tops Q3 EPS by 7c

Coach, Inc. (NYSE: COH) reported Q3 EPS of $0.68, $0.07 better than the analyst estimate of $0.61. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.13 billion.

Victor Luis, Chief Executive Officer of Coach, Inc., said, “During the third quarter, total sales declined as weakness in our North American women’s bag and accessories business continued to offset strong growth in men’s, footwear, and robust sales gains in Asian markets and Europe. Our business in North America remained challenging in the period, exacerbated by the weather and shift of the Easter holiday. We experienced sharply lower traffic levels in our stores while our internet results were impacted by our strategic decisions to eliminate third party events, as well as limit the access and invitations to our factory flash site. At the same time, China results remained resilient with total sales growing over 25% and comparable store sales rising at a double-digit rate. Importantly, we continued to advance our transformation initiatives across all consumer touchpoints, including our first ever New York Fashion Week presentation in February. The strong editorial response to Executive Creative Director Stuart Vevers’s inaugural collection brought Coach into the fashion conversation.”

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

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