Coach (COH) stock was up on Tuesday following its earnings report and signs of a turnaround for the company.
Coach reported earnings per share of 41 cents for its first fiscal quarter of 2016. This is down from the earnings per share of 53 cents that it reported during the first fiscal quarter of 2015. However, it did beat analysts’ estimates for the company, which were set at 40 cents per share. It’s also better than the 31 cents per share reported in Q4 2015.
Coach reported revenue during fiscal Q1 2016 of roughly $1 billion. This matches up with what Wall Street was expecting from the company and is the same as what it reported in Q1 2015. It also matches revenue from Q4 2015.
Coach’s same-store sales in the United States fell more than 9% when compared to same-store sales from fiscal Q1 2015. However, this is better than the 19% decrease that COH saw in same-store sales in Q4 2015.
COH shares were up 4% as of Tuesday afternoon.
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