Coach Q2 results beat forecasts
Net sales were $650 million, 22% higher than the $532 million reported in the same period a year ago. Net income before option expense rose 36% to $183 million compared with $134 million in the prior year. Including the impact of stock option expense, net income rose 37% to $174 million compared with $127 million in the prior year. During the quarter, gross profit rose 25% to $505 million from $403 million a year ago.
For the six months ended December 31, 2005, net sales were $1.1 billion, up 26% from the $876 million reported in the first six months of fiscal 2005. Net income before option expense rose to $283 million, up 40% from the $202 million reported a year ago. Including option expense in both periods, net income rose 43% to $268 million from $188 million.
