Coach 4th Quarter Net up 24%, Margins Improve; Fiscal 2013 to Be 'Investment Year'
Coach Inc.'s (COH) fiscal fourth-quarter earnings rose 24% as the maker of high-end leather-goods topped sales expectations and improved its margins. But shares were trading 8.8% lower at $55.25 premarket as Coach described fiscal 2013 as "an investment year" in which it will accelerate the acquisition of domestic-retail operations in key Asian markets, including those in Malaysia and Korea. The stock has fallen 6.2% so far this year through Monday's close. "Our goals remain unchanged," said Chairman and Chief Executive Lew Frankfort. "We're committed to achieving double-digit top- and bottom-line growth over our planning horizon. We have a business