Before the market open today, the luxury accessories maker reported adjusted earnings of 68 cents per share, topping analysts' forecasts for earnings of 67 cents per share.
Revenue rose by 4% year-over-year to $1.27 billion, slightly below analysts' estimates for revenue of $1.28 billion.
North American Coach brand sales fell by 7% and International Coach brand sales rose by 4% during the quarter, the company said. Coach expects positive North American comparative sales by the fourth quarter.
"We drove further sequential improvement in our North America bricks and mortar business - led, as expected, by our retail stores, while our outlet store channel also strengthened against a backdrop of lower tourist traffic and a highly promotional environment," CEO Victor Luis said in a statement.
Coach management has turned the company around, TheStreet's Jim Cramer said on CNBC's Squawk on the Street this morning.
Luis, who was appointed CEO of Coach in 2014, has been "very strong," said Cramer, who compared him to McDonald's CEO Steve Easterbrook.
"This is a game changer," Cramer continued. "The turn is happening."
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and disappointing return on equity.
You can view the full analysis from the report here: COH