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Coach and peers higher despite shaky read on handbags

Jan. 26, 2016 3:04 PM ETTapestry, Inc. (TPR) StockMOV, TPR, KATE, VRA, CPRIBy: Clark Schultz, SA News Editor2 Comments
  • Coach (COH +10.3%) is up 10% after a penny beat over consensus Q4 earnings estimates.
  • Movado (MOV +5.1%), Kate Spade (KATE +2.9%), Michael Kors (KORS +2.9%), and Vera Bradley (VRA +1.4%) are all higher after the Coach print, although some traders are expressing caution.
  • Coach's sales growth was driven largely by the recently-acquired Stuart Weitzman brand, not handbags, and the company warned on the level of promotional activity with handbag sellers.
  • Previously: Coach beats by $0.01, misses on revenue (Jan. 26 2016)
  • Previously: Coach higher after results and guidance satisfy investors (Jan. 26 2016)

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