Luxury goods seller’s profit rises 15%
Coach Inc., the largest U.S. luxury handbag maker, climbed the most in almost two months after reporting quarterly profit that topped analysts’ estimates, driven by holiday sales in North America. Coach rose 5.8 percent to $67.97 in New York, the biggest gain since Nov. 28. The shares advanced 10 percent last year. Net income in the fiscal second quarter ended Dec. 31 rose 15 percent to $347.5 million, or $1.18 a share, from $303.4 million, or $1, a year earlier, New York-based Coach said today in a statement. Analysts projected $1.15 a share, the average of 24 estimates compiled by Bloomberg.