Coach Projects Double-digit Growth In Both Net Income And EPS For FY17.

(RTTNews) - Coach, Inc. (COH) said that it projects double-digit growth in both net income and earnings per share for fiscal 2017.

The Company expects revenues for fiscal 2017 to increase by low-to-mid single digits, including an expected benefit from foreign currency of approximately 100-150 basis points based on current exchange rates.

In addition, the Company initiates an operating margin forecast for Coach, Inc. of between 18.5-19.0% for fiscal 2017. This guidance incorporates the negative impact of both Stuart Weitzman and the strategic decision to elevate the Coach brand's positioning in the North American wholesale channel, including the closure of about 25% of doors and a reduction in markdown allowances. Excluding this impact, Coach brand operating margin would be in the area of 20% in fiscal 2017, consistent with prior guidance.

The company also announced that its Board of Directors declared a quarterly cash dividend of $0.3375 per common share, maintaining an annual rate of $1.35. The dividend is payable on October 3, 2016 to shareholders of record as of the close of business on September 12, 2016.