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Coach Q4 income tops expectations, but sales miss
New York -- Coach Inc. reported Tuesday that net income for the quarter ended June 30 rose 24% to $251.4 million, from $202.5 million in the same period last year, topping Wall Street projections.
The company’s revenue in the quarter rose 12% to $1.16 billion, below analysts’ expectations of $1.2 billion. Slowing growth at the company’s factory-outlet stores impacted sales. Coach reinstated coupons at its factory stores late in the quarter amid increasing discounting among retailers.