Coach 4Q Net Up 34%; Sales Continue Rebound Begun In Late '09
DOW JONES NEWSWIRES Coach Inc.'s (COH) fiscal fourth-quarter profit jumped 34%, as sales continued to rebound, with results topping expectations. The luxury handbag and leather-goods maker has seen sales increase since late 2009 as consumers started to become more confident in the economy. But a recent dip occurred in such confidence as the economic recovery was believed to have shifted into a lower gear. Despite consumer uncertainties that drove down retail sales since May in the U.S., Chairman and Chief Executive Lew Frankfort said that in the fourth quarter, Coach's market share expanded across all geographies.