US-based luxury goods company Coach, Inc. has reported a 30% increase in net sales on a continuing operations basis for its third fiscal quarter ended March 31, boosted by rapid growth in the US handbag and leathergoods market. Sales reached $625 million from the $480 million generated on the same basis in the prior year. Total net sales, including discontinued operations, were $633 million, 27% up from $498 million. Net income rose 45% to $147 million, compared with $102 million in the prior year.

For the nine months ended March 31, sales rose 28% to $1.960 billion, on a continuing operations basis, from $1.534 billion a year ago, while net income rose 36% to $477 million from $351 million.

Headquartered in New York, Coach’s products include handbags, women's and men's small leathergoods, business cases, weekend and travel accessories, footwear, watches, outerwear, scarves and jewellery.