UPDATE: Coach Posts Lower Q2 Profit

Coach COH reported a rise in its fiscal second-quarter net profit. Coach's quarterly profit surged to $352.8 million, or $1.23 per share, versus $347.5 million, or $1.18 per share, in the year-ago period. Its sales climbed 4% to $1.5 billion from $1.45 billion. On a constant-currency basis, Coach's sales surged 5%. Coach shares tumbled 11.59% to $53.65 in pre-market trading.