UPDATE: Coach Posts Downbeat FQ2 Profit

Coach

reported downbeat fiscal second-quarter profit. Coach's quarterly net income fell to $297.4 million, or $1.06 per share, versus a year-ago profit of $352.8 million, or $1.23 per share. Its revenue declined 5.6% to $1.42 billion. However, analysts were expecting a profit of $1.11 per share on revenue of $1.48 billion. Coach shares fell 7.52% to $48.60 in pre-market trading.