Pursuits
Coach Rises as Profit Tops Estimates, Shows Revival on Track
- New products and less reliance on discounts boost results
- Same-store sales decline slows from previous quarter
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Coach Inc. shares rose after profit topped analysts’ estimates, signaling that the company is on its way to regaining its reputation for luxury.
Earnings were 41 cents a share, excluding some items, the New York-based company said in a statement Tuesday. Analysts estimated 40 cents, on average. The results were driven by new styles and fewer discounts, the company said.