Coach, Inc. (NYSE:COH) Q2 Profit Misses Forecast; Shares Drop - NKE, CROX, DECK

Pompano Beach, FL -- (SBWIRE) -- 01/23/2013 -- Coach, Inc. (NYSE:COH) dropped the most in over five months following the biggest US luxury handbag manufacturer announced fiscal Q2 profit that missed analysts’ forecasts, hurt by decreased demand in North America.

Coach dropped earlier as much as 17% for the largest intraday drop since July 31. The shares fell 9.1% last year against a 25% rise in the Standard & Poor’s 500 Retail Index.

Can Investors Bet on COH after this News update? Find out in this Research Report

New York-based Coach announced today in a statement that net income increased 1.5% to $352.8 million, or $1.23 per share, in the quarter closed December 29, as compared to $347.5 million, or $1.18, a year before. Analysts anticipated $1.28, the average of forecasts compiled by Bloomberg.

At the current trading session, Coach, Inc. (NYSE:COH) shares are down -15.05% to $51.55 while the stocks are trading within the range of $50.47 – $52.44. In the past year, the stock has traded within a range of $48.24 – $79.70. Average daily trading volume is 3.84 million shares.

Why Should Investors Buy COH After the Recent Fall? Just Go Here and Find Out

If we look at a few other stocks within industry, NIKE, Inc., Crocs, Inc. and Deckers Outdoor Corp are in the top volume leaders. Let’s have a quick look on their Market performance.

NIKE, Inc. (NYSE:NKE) shares are down -1.48% to $52.85 while the stock is trading within the range of $52.86 – $53.35 in the current trading session. In the last 12 months the shares have traded between $42.55 and $57.40. The average daily trading volume is 4.04 million shares.

Will NKE Get Buyers Even After The Recent Rally? Find Out Here

Crocs, Inc. (NASDAQ:CROX) shares in the current session moved down -0.76% reaching $14.41. The stocks are trading in a range of $14.40 – $14.55. In the last year the stock has moved within a range of $12.00 – $22.59. The Company’s average daily trading volume is 2.04 million shares.

Has CROX Found The Bottom and Ready To Move Up? Find Out Here

Another rival company, Deckers Outdoor Corp (NASDAQ:DECK), is trading down -1.15% to $37.73. Intraday trading recorded the stock price in a range of $37.44 to $38.23. In the previous 52 weeks the stock’s price ranged between $28.53 and $92.27. Their average daily trading volume is 2.50 million shares.

Has DECK Found The Bottom And Ready To Gain Momentum? Find Out Here

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