Coach Inc. , the designer handbag maker, came out with first-quarter fiscal 2017 results, wherein adjusted earnings of 45 cents surpassed the Zacks Consensus Estimate by a penny and also increased 9.8% 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 7.4%.

Revenues: Coach generated net sales of $1,037.6 million that missed the Zacks Consensus Estimate of $1,065 million but increased 0.7% 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. You can see the complete list of today’s Zacks #1  Rank stocks here.

Stock Movement: Coach’s shares are down 0.2% 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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