NEW YORK — Coach Inc. (COH) on Tuesday reported fiscal first-quarter profit of $119.1 million.
On a per-share basis, the New York-based company said it had net income of 43 cents. Earnings, adjusted for non-recurring costs, came to 53 cents per share.
The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The luxury handbag maker posted revenue of $1.04 billion in the period, which also topped Street forecasts. Analysts expected $1 billion, according to Zacks.
Coach shares have dropped 36 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 6 percent. The stock has decreased 28 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. COH stock research report from Zacks.