Summary Box: Coach 4th quarter net income rises

AP News
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Posted: Aug 02, 2011 11:49 AM
Summary Box: Coach 4th quarter net income rises

THE NEWS: Coach Inc. said Tuesday that its fourth-quarter net income rose 4 percent, helped by people buying more expensive handbags in North America. The luxury bag maker's revenue rose 9 percent to $1.03 billion.

THE DETAILS: Revenue in stores open at least one year rose 10.1 percent in North America. The figure is considered a key measure of a retailer's financial health because it excludes the volatility from stores that opened or closed during the year.

THE CONTEXT: The luxury sector continues to recover more quickly than other parts of the retail industry, which is wrestling with consumer fears about unemployment and stagnant home prices.