USA: Coach Q1 Profit Soars 70 Per Cent, Lifts Outlook
Leading marketer of luxury leather goods, Coach Inc, on Tuesday lifted its full-year outlook after reporting a better-than-expected 70 per cent year-on-year leap in first quarter net profit amid surging sales and improved margins. The New York-based company posted a profit of $22.5 million, or 24 cents per share, for the quarter ended September 28, compared to $12.5m or 14 cents per share, in 2001. Sales shot up 28 per cent to $192.8m from $150.7m.
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