Coach, Inc. (COH) Tuesday reported first-quarter earnings which decreased, hurt by declines in North America sales. Earnings, however, topped analysts' estimates.
Net income declined to $119.1 million or $0.43 per share, from $217.9 million or $0.77 per share last year.
Excluding certain items, per-share earnings of $0.53 beat the $0.45 consensus estimate of analysts polled by Thomson-Reuters. Analysts' estimates typically exclude one-time items.
Net sales decreased 10 percent to $1.04 billion, from $1.151 billion last year. Analysts expected sales of $1 billion.
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