Coach Inc. , the designer handbag maker, came out with second-quarter fiscal 2017 results, wherein adjusted earnings of 75 cents surpassed the Zacks Consensus Estimate of 73 cents, alongside increasing 11% year over year.
For fiscal 2017, the company continues to expect double-digit growth in both net income and earnings.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has been stable over the past 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 6.7%.
Revenues: Coach generated net sales of $1,321.7 million that came almost in line with the Zacks Consensus Estimate of $1,322.2 million, and advanced 4% year over year.
Taking into account the foreign currency headwinds, the company now expects revenues for fiscal 2017 to increase in low-single-digits. This includes an anticipated 50 basis points adverse impact from currency woes for fiscal 2017.
Zacks Rank: Currently, Coach carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Coach’s shares are up 2.9% during pre-market trading hours following the earnings release.
Check back later for our full write up on Coach’s earnings report!
Zacks' Top 10 Stocks for 2017
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Coach (COH) Tops Q2 Earnings Estimates, Stock Gains 2.9%
Coach Inc. , the designer handbag maker, came out with second-quarter fiscal 2017 results, wherein adjusted earnings of 75 cents surpassed the Zacks Consensus Estimate of 73 cents, alongside increasing 11% year over year.
For fiscal 2017, the company continues to expect double-digit growth in both net income and earnings.
Coach, Inc. Price and EPS Surprise
Coach, Inc. Price and EPS Surprise | Coach, Inc. Quote
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has been stable over the past 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 6.7%.
Revenues: Coach generated net sales of $1,321.7 million that came almost in line with the Zacks Consensus Estimate of $1,322.2 million, and advanced 4% year over year.
Taking into account the foreign currency headwinds, the company now expects revenues for fiscal 2017 to increase in low-single-digits. This includes an anticipated 50 basis points adverse impact from currency woes for fiscal 2017.
Zacks Rank: Currently, Coach carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Coach’s shares are up 2.9% during pre-market trading hours following the earnings release.
Check back later for our full write up on Coach’s earnings report!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>