Coach Q3 earnings increase but net sales down 4 percent

Third quarter net sales at Coach totalled 995 million dollars, a decrease of 4 percent on a reported and 3 percent on a constant currency basis. Net income on a reported basis totalled 122 million dollars, with earnings per diluted share of 0.43 dollar compared to reported net income in the third quarter of FY16 of 112 million with earnings per diluted share of 0.40 dollar. On a non-GAAP basis, net income was 130 million dollars compared to 124 million dollars a year ago, an increase of 5 percent, with earnings per diluted share of 0.46 dollar, up 4 percent versus prior year.