Coach, Inc. (COH) recently reported fiscal first quarter results. Earnings per share of 44 cents surpassed the Zacks Consensus Estimate by 13%. The company has delivered an average upside earnings surprise of 5% over the past 4 consecutive quarters.

Company Description

Coach sells fine accessories and gifts for women and men Incorporatedluding handbags, women’s and men’s small leathergoods, business cases, weekend and travel accessories, footwear, watches, outerwear, scarves, sunwear, fragrance, jewelry and related accessories.

Coach is sold worldwide through Coach stores, select department stores and specialty stores, through the Coach catalog in the U.S. and through Coach’s website.

A Solid Quarter

Coach reported fiscal first-quarter results on October 20. Earnings per share of 44 cents surpassed the Zacks Consensus Estimate of 39 cents by 13%. The company has delivered an average upside earnings surprise of 5% over the past 4 consecutive quarters.

Sales rose 1% to $761 million from $753 million in the year ago period. Same store North American sales declined 1%, but direct-to-consumer sales, which included China, rose 10%.

Bullish Forecasts

Analysts polled by Zacks are bullish on earnings for COH. For the year ending June 2010, the Zacks Consensus Estimate of $2.06 was increased from $1.95 in just the past week. For the following year, forecasts of $2.25 climbed from $2.12 over the past week.

Favorable Industry Comparisons

The company offers solid fundamentals, trading with a forward P/E of 17. Coach’s return on equity (ROE) of 38% soars past the industry average of 9%. The company’s net profit margin of 19% compares to an industry average of 3%. COH pays an industry-leading dividend yield of 1%.

COH is also strong technically, outpacing the market by about 50% over the past year.

Zacks Investment Research
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