Coach Surges on Higher Q1 Results

by Christopher Freeburn | October 23, 2012 12:26 pm

Coach Surges on Higher Q1 Results

Shares of Coach (NYSE:COH[1]) jumped almost 9% in Tuesday trading after the company announced that it earned $221.4 million during its fiscal first quarter[2], 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.

Endnotes:
  1. COH: http://studio-5.financialcontent.com/investplace/quote?Symbol=COH
  2. during its fiscal first quarter: http://www.forbes.com/sites/abrambrown/2012/10/23/coach-bags-double-digit-growth-abroad-as-quarterly-figures-shine/

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