The New York-based designer of high-end leather accessories, Coach Inc., has surprised the markets with a 70% leap in first quarter profits to $22.5 million. For the three months ended September 28 2002, sales were up 28% to $193 million, helped by the popularity of its handbags in the United States and Japan. Costs were reduced by improving margins and by the company gaining control of its Japanese distribution operations through a joint venture.

Share this story: