by Christopher Freeburn | October 23, 2012 12:26 pm
Shares of Coach (NYSE:COH) jumped almost 9% in Tuesday trading after the company announced that it earned $221.4 million during its fiscal first quarter, up slightly from $215 million in the same period last year. EPS came in at 77 cents, which narrowly topped analysts’ estimates of 76 cents a share, Forbes noted.
The luxury accessories maker recorded quarterly revenue of $1.16 billion, which matched Wall Street estimates.
Company officials said international same-store sales jumped 15% to $362 million. Sales in China soared 40% over last year. U.S. same-store sales increased 8% to $784 million.
Coach also said it planned to repurchased $1.5 billion in stock by mid-2015.
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