Coach

(COH)

shares Wednesday pulled back even though the company raised guidance.

The fashionable leather-goods maker preannounced second-quarter results, saying it expects to earn 67 cents a share on revenue of $532 million. Previously, Coach forecast EPS of 64 cents.

Analysts expect the company to earn 66 cents a share on revenue of $515.4 million, according to Thomson First Call.

U.S. same-store sales rose 16.5%. Retail stores were up 13.9%, while factory-store sales rose 20.7%. Same-store sales in the important Japanese market posted "high-single-digit increases."

"Our performance speaks to the vitality of the Coach brand, as we continue to grow market share in a rapidly expanding U.S. premium accessories category," the company said.

Coach's innovative accessories have become increasingly popular among fashion-conscious American women; its recent leather PDA holder, for example, flew off the shelves during the holiday season.

Coach reports full results Jan. 25, 2005.

Shares were down 34 cents, or 0.5%, to $55.76 in premarket trading, about $2 below their 52-week high.