Coach goes more full-price, less discount; Q2 profit tops forecast

New York

COACH Inc has posted second-quarter profit that exceeded analysts' estimates as the struggling handbag maker worked to increase sales of full-priced items and reduce discounts as part of its turnaround plan.

Excluding restructuring costs, earnings were 72 cents a share, the New York-based company said on Thursday. Analysts had estimated 66 cents, on average. North American same-store sales fell 22 per cent, compared with the 24 per cent drop predicted by analysts tracked by Consensus Metrix.