Coach, Inc. (COH), the designer handbag maker, came out with second-quarter fiscal 2015 results, wherein adjusted earnings of 72 cents easily surpassed the Zacks Consensus Estimate of 65 cents. However, the bottom line fell 32% from $1.06 a share earned in the year-ago quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2015 remains unchanged in the last 30 days. However, if we look at Coach’s performance in the trailing four quarters, it an impressive picture. The company had posted positive earnings surprises in all the four quarters.
In the trailing four quarters, the company outperformed the Zacks Consensus Estimate by an average of 11.5%.
Revenues: Coach generated net sales of $1,219.4 million that fell short of the Zacks Consensus Estimate of $1,230 million and decreased 14% year over year.
Key Events: Coach continues to streamline its North American operations and has promoted two of its key executives. Also, the company inked a deal to acquire luxury footwear brand Stuart Weitzman to diversify its business.
Zacks Rank: Currently, Coach carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Stock Movement: Coach’s shares are up nearly 5.8% 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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