Coach net income rises 4 percent in 4Q
NEW YORK -- Coach says its fourth-quarter net income rose 4 percent as the demand for luxury bags in North America continues to improve.
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Net income rose to $202.5 million, or 68 cents per share. That compares to net income of $195.5 million, or 64 cents per share, last year. Analysts expected net income of 65 cents per share, according to FactSet.
The New York company said Tuesday that revenue rose 9 percent to $1.03 billion from $950.5 million last year. Analysts expected revenue of $1.01 billion.
CEO Lew Frankfort says Coach's share of the North American accessories market grew during the quarter and operations in China and other East Asian markets were strong.
And Frankfort says the company expects to drive fiscal 2012 revenue and earnings at a double-digit percentage pace.