UPDATE: Coach Posts Upbeat FQ3 Profit

Coach

reported a rise in its fiscal third-quarter net income. Coach's quarterly profit surged to $238.9 million, or $0.84 per share, versus $225 million, or $0.77 per share, in the year-earlier period. Its net sales climbed to $1.19 billion from $1.11 billion. However, analysts were expecting earnings of $0.80 per share on sales of $1.18 billion. Coach shares jumped 11.68% to $56.50 in pre-market trading.