Coach Inc. , the designer handbag maker, came out with fourth-quarter fiscal 2016 results, wherein adjusted earnings of 45 cents surpassed the Zacks Consensus Estimate of 40 cents per share and also increased 45.2% year over year. For fiscal 2017, the company expects double-digit growth in both net income and earnings.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 portrays a slight upside in the last 30 days. Moreover, Coach’s performance in the trailing four quarters gives a positive picture. The company has posted positive earnings surprises in all the four quarters.

In the trailing four quarters, excluding the quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 6%.

Revenues: Coach generated net sales of $1,154.6 million that came almost in line with the Zacks Consensus Estimate of $1,154 million and also increased nearly 15% year over year. The company expects revenues for fiscal 2017 to rise by low-to-mid single digits.

Zacks Rank: Currently, Coach carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.

Stock Movement: Coach’s shares rose nearly 3% during pre-market trading hours following the earnings release.

Check back later for our full write up on Coach’s earnings report!

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