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Coach (COH) Rises as Q1 Earnings & Revenues Beat Estimates

Zacks Equity Research
Updated

Coach Inc. COH, the designer handbag maker, came out with first-quarter fiscal 2016 results, wherein adjusted earnings of 41 cents surpassed the Zacks Consensus Estimate of 39 cents per share. However, the bottom line fell 22.6% from 53 cents a share earned in the year-ago quarter.

Revenues: Coach generated net sales of $1,030.3 million that surpassed the Zacks Consensus Estimate of $1,022 million but decreased 0.8% year over year.

Guidance: Taking Coach as a stand-alone brand, management maintained its previous projection of low single-digit growth in revenue in constant currency for fiscal 2016, on a 52-week basis. However, including anticipated sales of $335 million in dollar terms from the addition of the Stuart Weitzman brand to its portfolio, revenue is expected to increase in high-single digits and contribute 9 cents a share to the bottom line.

Zacks Rank: Currently, Coach carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.

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Stock Movement: Coach’s shares rose over 3.9% during pre-market trading hours following the earnings release.

Check back later for our full write up on Coach’s earnings report!

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COACH INC (COH): Free Stock Analysis Report
 
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Zacks Investment Research