In the Bag

Coach Inc. (New York) announced its profits more than doubled in its third fiscal quarter ended March 29, 2003. The company reported its net income rose to $31.9 million.

Coach attributes its growth in quarterly revenue, which climbed 36 percent, to higher sales of it Signature line and new products such as its Hamptons Weekend lightweight nylon totes.

The retailer has also been opening more company-run stores in the U.S. and Japan, which are generating higher sales than Coach is enjoying from other retailers. A second Coach flagship recently opened in Tokyo, as well as three Coach stores and several department store boutiques elsewhere in Japan.