NEW YORK (TheStreet) -- Shares of Coach (COH) closed lower by 4.49% to $37.19 in Friday's regular trading session, reversing some of yesterday's gains after the company said profit and sales took a hit in its latest earnings report, the Wall Street Journal reports.

Investors initially gave the stock a boost after the luxury goods retailer posted fiscal second-quarter results yesterday that were slightly better than analysts' expectations.

But earnings of 66 cents a share for the quarter was down as much as 38% from a year ago, while revenue was also down by double digits compared to last year.

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The company's financial results are in contrast to Kate Spade (KATE) , which saw a 24% increase in sales at existing locations in its preliminary results for last year, the Journal noted.

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New York City-based Coach is a design house of modern luxury accessories and lifestyle collections, offering premium lifestyle accessories to a loyal and engaged customer base and provides consumers with products that use a broad range of leathers, fabrics and materials. 

Separately, TheStreet Ratings team rates COACH INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate COACH INC (COH) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and weak operating cash flow."

COH data by YCharts

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