Coach Inc, the luxury leather accessories designer, on Monday raised its third quarter profit forecast above analysts’ expectations, after its spring range of handbags proved to be a huge success with shoppers.

For the quarter ending March 29, 2003, the leading New York-based company expects earnings of at least $0.29 per share, compared with estimates of $0.25. Sales are expected to come in at $210 million. Coach also expects sales in stores open at least a year to climb at least 10%, driven by the strength of sales in its full prices stores.

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