Coach's quarterly profit almost doubles (COH)
Thomson Reuters
(Reuters) - Coach Inc reported a quarterly profit that nearly doubled, helped by strong demand for Stuart Weitzman shoes and for its handbag and accessories in North America.
Coach said its net income rose to $151.7 million, or 53 cents per share, in the fourth quarter ended July 1, from $81.5 million, or 29 cents per share, a year earlier.
The company's net sales fell to $1.13 billion from $1.15 billion, as it cut back on promotions and pulled its products from department store shelves. (Reporting by Siddharth Cavale and Uday Sampath Kumar in Bengaluru; Editing by Maju Samuel)
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