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Coach Inc's sales rise for first time in 10 quarters
[NEW YORK] Handbag maker Coach Inc's quarterly sales rose for the first time in 10 quarters, helped by the acquisition of luxury shoe brand Stuart Weitzman, and strong demand in Europe and China.
Revenue rose 4.5 per cent to US$1.27 billion in the second quarter ended Dec 26.
Sales at established stores for the Coach brand in North America fell 4 per cent including online sales. Analysts on average had expected a decline of 4.1 per cent, according to research firm Consensus Metrix.
Net income fell to US$170.1 million, or 61 cents per share, in the second quarter from US$183.5 million, or 66 cents per share, a year earlier.