US luxury goods brand Coach, Inc. has posted a 20% increase in sales for its third fiscal quarter ended April 1. Net sales reached $498 million, 20% higher than the $416 million reported in the same period of the prior year. On a constant-exchange-rate basis, net sales increased 23% in the third quarter, excluding the negative currency effects of 3% from translating foreign-denominated sales into US dollars. Net income rose 35% to $109 million, compared with $81 million in the previous year.

For the nine months to April 1, net sales were $1.6 billion, up 24% from the $1.3 billion reported in the first nine months of fiscal 2005. On a constant-exchange-rate basis, net sales increased 26%, excluding the negative currency effects of 2% from translating foreign-denominated sales into US dollars. Net income rose to $377 million, up 40% from the $269 million reported a year ago.