Coach Q4 Results Beat Estimates - Quick Facts

(RTTNews) - Coach Inc. (COH), a design house of modern luxury accessories and lifestyle brands, Tuesday said its fourth-quarter net income plunged to $12 million or $0.04 per share from $75 million or $0.27 per share in the previous year.

Adjusted earnings totaled $0.31 per share, while it was $0.59 per share last year. On average, 32 analysts polled by Thomson Reuters expected earnings of $0.29 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales fell 12 percent to $1.00 billion from $1.14 billion in the prior year. On a constant currency basis, total sales declined 8 percent for the period. Analysts expected revenues of $973.03 million.

The company currently expects Coach stand-alone brand revenues for fiscal 2016 to increase by low-single digits in constant currency on a 52-week basis, consistent with prior guidance.