Coach sales rise on gains in North America, China

Tue Oct 23, 2012 7:18am EDT

(Reuters) - Upscale leather goods maker Coach Inc (COH.N) 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 September 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.

(Reporting by Phil Wahba in New York; Editing by Maureen Bavdek)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.