NEW YORK--(BUSINESS WIRE)--September 17, 2001--Coach, Inc. (NYSE: COH), a leading marketer of modern classic American accessories, today reaffirmed sales and earnings per share expectations for the first fiscal quarter ending September 29, 2001.

The company expects to report sales of at least $150 million, a 14% increase from the $131.5 million in the prior year's first quarter. Further, the company continues to project earnings per share of $0.27-$0.28, compared to $0.25 reported for the comparable period a year ago, before the impact of certain reorganization charges taken in the year-ago quarter. These first quarter sales and earnings projections are consistent with original guidance provided on July 30, 2001 when the company announced fiscal year 2001 results.

Lew Frankfort, Chairman and Chief Executive Officer of Coach, Inc., said, "Last week's incomprehensible tragedy has shocked and greatly saddened us. We are extremely thankful that all Coach employees, including those from our World Trade Center store, are safe. Our thoughts remain with the victims, their families and all those who have been valiantly participating in search and rescue efforts in New York and Washington DC."

"Given the recent tragic events, we feel obligated to reassure our shareholders that we continue to expect to meet our first quarter sales and earnings projections. Further, while it's obviously premature to gauge the impact of this tragedy on the American psyche, consumer spending in general, or on Coach's business in particular, we remain confident that our operating strategies, business processes and ability to adapt to changing conditions will enable us to continue to deliver superior financial results," Mr. Frankfort concluded.

Coach, with headquarters in New York, is a leading American marketer of fine accessories and gifts for women and men, including handbags, business cases, furniture, luggage and travel accessories, wallets, footwear, watches, outerwear and related accessories. Coach is sold worldwide through Coach stores, select department stores and specialty stores, through the Coach catalogue in the U.S. by calling 800-262-2411 and through Coach's website at www.Coach.com.

Coach's shares are traded on The New York Stock Exchange under the symbol COH.

This press release contains forward-looking statements, based on current expectations, that involve risks and uncertainties that could cause results of Coach, Inc. to differ materially from management's current expectations. These forward-looking statements can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "intend," "estimate," "are positioned to," "continue," "project," "guidance," "forecast," "anticipated," or the negative thereof or comparable terminology, including predictions of future results. Future results will vary from historical results, and historical growth is not indicative of future trends. Our future results will depend upon expected economic trends, our ability to anticipate consumer preferences for accessories and fashion trends, our ability to control costs, our store expansion and renovation program, currency fluctuations, and other factors. Please refer to the company's most recent Prospectus for a complete list of risk factors.