By  on January 20, 2010

Shares of Coach Inc. fell more than 5 percent Wednesday after its second-quarter North American comparable-store sales improved but fell below analysts’ expectations even as overall sales and profits posted double-digit gains.

For the three months ended Dec. 26, income rose 11.1 percent to $241 million, or 75 cents a diluted share, from $217 million, or 67 cents, in the year-ago quarter. Sales gained 10.9 percent to $1.07 billion from $960.3 million. North American comps rose 3.2 percent, the first positive comp in more than a year, but below the 5 percent gain expected by Wall Street analysts.

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