Coach's profit for the three months ended March 28 fell to $114.9 million, or 36 cents per share, from $162.4 million, or 46 cents per share last year. Excluding charges related to its cost-cutting plan, profit was 38 cents per share -- 2 cents better than analysts expected.
Revenue edged down less than 1 percent to $739.9 million from $744.5 million. That was better than the $711.4 million analysts predicted.
Coach shares rose $2.77 to $21 in morning trading. They have traded between $11.41 and $37.64 during the past 52 weeks.Disclosure I do not own coh.