Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of purse powerhouse Coach
So What: Earnings per share came in at $0.63 for Coach, well above the $0.55 mark that Wall Street was looking for. Total sales were up 20% year over year. North American comparable-store sales rose 8.5%. Gross margin increased, operating margin increased, and expenses as a percentage of sales decreased. Is there any wonder that the market is so excited?
Now What: For the broader market, this raises the question of whether Coach is simply a cut above the rest, or whether consumers' emergence from hibernation will also mean better results for Tiffany
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