The US designer of high-end handbags and leather goods, Coach Inc., has upped its earnings forecast for the first quarter ending September 28 2002 citing higher margins, lower cost sourcing and continued strong sales.

In spite of the weak retail environment, the company expects fiscal first quarter earnings to climb at least 21 cents per diluted share – 7 cents more than last year and 3 cents up on analysts’ expectations. Sales are expected to generate between $185 million and $190 million as opposed to the previous forecast of $180 million, and $150.7 million the year before.

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