By  on August 2, 2011

Shares of Coach Inc. fell 6.5 percent in trading Tuesday to close at $61.03 after the company said during its fourth-quarter conference call that gross margin for the current fiscal year would be “essentially flat” compared with the year just ended.

Lew Frankfort, chairman and chief executive officer, told WWD, “I feel very positive that we can maintain high margins in the 72 percent to 73 percent [range]. We’re pleased to be able to maintain our margins in that range in the face of increasing costs.”

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