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Byline: Vicki M. Young
Coach Profits Rise 34.1% in Qtr.
Shares of Coach Inc. fell 3.5 percent tuesday despite a 34.1 percent jump in fourth-quarter profits from the handbag and accessories firm.
For the three months ended July 3, net income was $195.5 million, or 64 cents a diluted share, from $145.8 million, or 45 cents, in the year-ago quarter. Sales rose 22.2 percent, to $950.5 million from $777.7 million, and North American same-store sales gained 6.3 percent.
For the year, income increased 17.9 percent to $734.9 million, or $2.33 a diluted share, from $623.4 million, or $1.91, last year. Sales rose 11.7 percent to $3.61 billion from $3.23 …