Chicago, Coach Inc. reported that its quarterly profit would likely beat expectations. The company said strong sales of its handbags for the fall season drove the increase. Coach said first-quarter earnings would be at least 25? per share on sales of at least $445 million. Analysts expected a profit of 24? per share.
Three top Coach executives signed extensions to stay with the company through August 2011: chairman and chief executive Lew Frankfort, executive creative director Reed Krakoff and COO Keith Monda.