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Coach surprised everybody this morning when it reported higher earnings than previously estimated, but most of that is not due to a frenzy of customers spending money at Coach. According to WWD, the company posted an 84.4% loss in profits in the past three months but was able to still stay out of the red because of its acquisition of shoe brand Stuart Weitzman. The acquisition cost Coach half a billion dollars, but it may have been worth it: the company expects Weitzman to bring in $335 million in sales within the next year.
In other news, Coach will be hosting its first runway show at NYFW to try and drum up support for its new, fashion-forward look. According to Forbes, a JP Morgan analyst conducted a poll of 500 women ages 22 to 55 who have each purchased a bag in the past year and the results showed that nobody could really tell that Coach had a new look. 72% of respondents said that the quality and styling of the brand was "unchanged" and the same amount of respondents thought the bags were overpriced. Only 6% of those surveyed said that Coach's products had "significantly improved."