Business

MARKET MOVERS

Luxury goods seller’s profit rises 15%

Daniel Acker/Bloomberg News/File 2006

Shoppers at Coach bought items like $428 Madison satchels, $298 Kristin shoulder bags, and $198 Poppy totes after consumer confidence rose to an eight-month high in December.

Coach Inc., the largest US maker of luxury handbags, climbed the most in nearly two months after reporting quarterly profit that topped estimates, driven by North American holiday sales. Coach rose 5.8 percent, the most since Nov. 28. The shares advanced 10 percent last year. Net income was up 15 percent to $347.5 million. Sales at Coach’s North American stores open at least a year rose 8.8 percent.

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