By  on April 23, 2008

Shares of Coach Inc. fell 2.46 percent on Tuesday as investors took issue with the company's decision to hold off on guidance for fiscal year 2009, even though third-quarter results beat Wall Street's expectations by 1 cent.

Lew Frankfort, chairman and chief executive officer, said on a conference call with Wall Street analysts that "providing guidance at this time [would] require a level of false precision."

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