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Coach Q4 tops expectations
New York -- A big acquisition of a luxury shoe brand helped Coach top analysts’ fourth quarter earnings forecasts even as its sales and income fell.
Coach’s fourth-quarter net income plunged 84.4% to $11.7 million, down from $75.2 in the year-ago period. Excluding one-time charges, Coach said its net income came in at $85 million, or 31 cents per share, beating the analyst consensus by two cents.
Coach said Stuart Weitzman, which it acquired earlier this year, helped to boost its earnings.
