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Coach Q1 tops on China sales

The luxury handbag and accessory maker said Q1 EPS rose 10% to 84 cents, beating views by 4 cents. Sales climbed 7% to $1.19 bil, above views for $1.18 bil. Coach's (COH) N. American sales rose 7% to $792 mil and int'l sales jumped 6% to $382 mil. Total sales in China rose 40%. Coach's men's business is also doing well, and the company is expanding its brand. Revenue from the division is expected to double to more than $600 mil in '13. Coach raised its annual dividend 15 cents to $1.35 per share. Shares jumped 9.8% to 55.55.