Skip to main content

Coach Net Income Declines


New York City The economy continues to take its toll on luxury retailers, including Coach. The company reported that in its first quarter net income declined 6% to $146 million. Revenue rose 11% to $752.5 million.

The company estimates second fiscal-quarter sales will jump to approximately $1.05 billion, representing a year-over-year increase of about 8%. Coach expects a new line of handbags and updates to existing lines to contribute to this increase, as well as spur holiday sales. Looking ahead, the company cut its fiscal-year sales guidance. Coach now expects sales to rise 10% from last year—from a previous estimate of 13%—to about $3.5 billion.

This ad will auto-close in 10 seconds