Coach, Inc. (NYSE: COH, SEHK: 6388), announced Friday that
its Board of Directors has declared a quarterly cash dividend of $0.225 per common share. The dividend is payable on April 2, 2012 to shareholders of record as of the close of business on March 9, 2012.
In China, overall sales were up by a double-digit percentage rate in the latest quarter, and Coach reiterated its earlier forecast for sales of $300 million in that market this fiscal year, reported Reuters.
Coach's gross profit margin declined a bit in the quarter, to 72.2 percent from 72.4 percent, but benefited from efforts to produce more goods in lower-cost countries like Vietnam and India.
For the three months ended Dec. 31, the New York company said net income rose to $347.5 million, or $1.18 per share, from $303.4 million, or $1 per share in late 2010. That beat the $1.15 per share estimate of analysts polled by FactSet.
Revenue rose 15 percent to $1.45 billion from $1.26 billion. Analysts expected revenue of $1.43 billion.
Direct-to-consumer sales, which include Coach stores, catalogs and websites, rose 17 percent to $1.28 billion.
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