Coach sales hurt by weakness at North America outlets
July 31 (Reuters) - Upscale leather goods maker Coach Inc reported lower- than-expected fourth-quarter sales, hurt by the deals it offered North American shoppers to lure them into its outlet stores, and a dip in shipments to department stores.
Overall revenue in the fourth quarter rose 12 percent to $1.16 billion, below the $1.2 billion Wall Street analysts were expecting, according to Thomson Reuters I/B/E/S.
Sales at North American stores open at least a year rose 1.7 percent during the quarter that ended June 30.
Net income was $251.4 million, or 86 cents per share, compared with $202.5 million, or 68 cents, a year earlier.
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