Coach sales rise on gains in North America, China

Tue Oct 23, 2012 7:15am EDT

Oct 23 (Reuters) - Upscale leather goods maker Coach Inc reported higher quarterly sales as business picked up at its own stores in North America and there were large gains in China.

Overall revenue in the first quarter, which ended Sept. 29, rose 10.6 percent to $1.16 billion, in line with Wall Street analysts' projections, according to Thomson Reuters I/B/E/S.

Sales at its own stores in North America, still its biggest market by far, rose 11 percent during the quarter. In China, still a small market for Coach, sales at stores open a year rose by a double digit percentage.

Net income in the quarter was $221.4 million, or 77 cents per share, compared with $215 million, or 73 cents, a year earlier.

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