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.