Coach Profits Bigger Than Expected
Chicago, Coach Inc. reported that its quarterly profit would likely beat expectations. The company said strong sales of its handbags for the fall season drove the increase. Coach said first-quarter earnings would be at least 25? per share on sales of at least $445 million. Analysts expected a profit of 24? per share.
Three top Coach executives signed extensions to stay with the company through August 2011: chairman and chief executive Lew Frankfort, executive creative director Reed Krakoff and COO Keith Monda.