Coach Q3 Profit Declines, But Adj. Profit Tops View - Quick Facts

(RTTNews) - Coach, Inc. (COH) reported that third-quarter net income declined to $88.1 million or $0.32 per share from $190.7 million or $0.68 per share in the prior-year quarter.

Excluding certain items, adjusted earnings for the quarter was $0.36 per share, compared to $0.68 per share in the year-ago quarter.

On average, 32 analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the quarter decreased 15 percent to $929.3 million from $1.10 billion in the same quarter last year. On a constant currency basis, sales grew 3 percent. Wall Street analysts had a consensus revenue estimate of $949.90 million for the quarter.