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The stock was down $1.30 just after 8:20 am ET, dropping to $19.60. If pre-market losses hold, the stock will open at its lowest level since late December.
After the closing bell on Thursday, Coach said it expects second quarter EPS of $0.67 from its prior guidance of $0.77 per share. In the second quarter of last year, the company reported earnings of $0.69 per share.
The company said sales for the second quarter decreased 2% to $960 million from $978 million for the comparable quarter of the prior year and fell short of its previous estimate of about $1.05 billion.
Analysts expected the company to earn $0.74 per share on revenue of $1.04 billion for the second quarter.
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