Shelly Banjo, Columnist

Less Bad Is Good Enough for Coach

The handbag maker's turnaround is taking hold.

January 26, 2016 at 5:33 PM UTC

Shelly Banjo leads the global business team for Bloomberg News in New York. A former New York bureau chief and senior tech writer, she’s covered business, finance and economics for two decades.

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Sometimes less bad is just good enough to do the trick.

For any other retailer, a 7 percent year-over-year decline in profit and a 4 percent drop in U.S. same-store sales would be nothing to cheer. But for Coach, the results released Tuesday were a good enough indication that the beleaguered handbag retailer is finally starting to win back its customers. The stock rose by as much as 12 percent, its biggest gain since 2010.