Coach, Inc. (NYSE:COH) shares decrease by 7.87%


Dallas, Texas 07/31/2013 (Financialstrend) – Coach, Inc. (NYSE:COH) had reported the financial performance results for the fourth quarter and full fiscal year of 2013. The leading design house of modern luxury accessories had reported net sales for the fourth quarter to be at $1.22 billion, which was compared to be higher by 6% over the $1.16 billion net sales reported for the same quarter of previous year. Net income for the quarter was reported to be at $254 million or $0.89 earnings per basic and diluted share, compared to the net income of $251 million or $0.86 earnings per share reported for the fourth quarter of 2012.

For the full fiscal year, the net sales had been reported to have gained by 7% to touch $5.08 billion from the year earlier sales of $4.76 billion. The net income had increased by 3% to touch $1.07 billion from $1.04 billion. The non GAAP adjusted earnings per share was at $3.73 per diluted share, which was 6% higher than the $3.53 earnings per share reported for the previous fiscal year.

Coach, Inc. (NYSE:COH) had closed for the day on Tuesday with $53.30 per share with a bearish performance of 7.87% over the previous day’s closing price. The intraday movements of the stock were between low values of $52.10 to a high value of $54.07 per share. The yearly stock price variations are between the lower values of $45.87 to a higher value of $63.24 per share. The shares held by the investors and the company insider’s account to 280.94 million with an institutional ownership of 87%. The total stock value of the company in the stock market is $14.97 billion. The trading trend of the company for its latest trading day was 16.25 million shares compared to the average trading volume over the month of 2.63 million shares.