USA: Coach In Top Gear As Profits Surge 80 Per Cent
Leading marketer of luxury leather goods Coach Inc on Tuesday reported an 80 per cent surge in fourth quarter net profit to $16.6 million from $9.2m last year thanks to soaring sales of its handbags in the US and Japan. The New York-based company net sales for the period climbed 30 per cent to $171.4 million and for the full-year, net income rose 31 per cent to $88m before the impact of reorganisation charges related to factory closures in Florida and Puerto Rico.
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