"Recognizing the ongoing need for funds for
reconstruction and care of those who have lost so much, asiannouveau. Pfirsch had an extensive career
as an inbound travel agency managing director in Thailand and surrounding
countries. Shopping on the Website is also secured by
VeriSign(R), the world's leading secure Website verification services that
protects consumers' personal and confidential financial information. for approximately $225 million plus
undistributed profits and paid-in capital of about $75 million. As always, we have a strong pipeline of fresh
and relevant products planned. For fiscal 2006, we expect
sales growth of at least 19% to at least $2.13.

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com has been a passion," said Mr. "We will soon be featuring additional artists and creators of
crafts from countries located throughout Southeast Asia and China as well .

Mr. Also in the fourth quarter, we
will be adding seven more retail stores in the U.18, compared with
analysts' current consensus estimate of $1. Coach's shares are traded on The New York
Stock Exchange under the symbol COH.51
========== ========= =========== =========

Shares used in computing
net income per share

Basic 379,695 374,012 378,885 370,502
========== ========= =========== =========

Diluted 391,609 387,139 390,413 384,294
========== ========= =========== =========

CONDENSED CONSOLIDATED BALANCE SHEETS
-------------------------------------
At April 2, 2005 , July 3, 2004 and March 27, 2004
-------------------------------------------------
(in thousands)
--------------

April 2, July 3, March 27,
2005 2004 2004
----------- ---------- - -----------
(unaudited) (unaudited)
ASSETS

Cash, cash equivalents and short
term investments $495,691 $434,443 $445,343
Receivables 83,630 55,724 78,657
Inventories 180,814 161,913 153,834
Other current assets 78 ,315 53,536 46,978
----------- ----------- ---------- -

Total current assets 838,450 705,616 724,812

Property and equipment , net 189,775 164,291 150,687
Long term investments 198,591 130,000 -
Other noncurrent assets 49,956 44,518 52,341
----------- ----------- -----------

Total assets $1,276,772 $1,044,425 $927,840
=========== =========== ===========

LIABILITIES AND STOCKHOLDERS'
EQUITY

Accounts payable $49,964 $44,771 $39,670
Accrued liabilities 169,759 123,647 129,987
Subsidiary credit facilities 21,315 1,699 13,264
Current portion of long-term debt 150 115 115
------- ---- ----------- -----------

Total current liabilities 241,188 170,232 183 ,036

Long-term debt 3,270 3,420 3,420
Other liabilities 65,080 48,289 32,409

Minority interest, net of tax 53 ,732 40,198 35,347

Stockholders' equity 913,502 782,286 673 ,628
----------- ----------- -----------

Total liabilities and stockholders'
equity $1,276,772 $1,044,425 $927,840
=========== =========== ===========

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"
Recognizing that contemporary Asian art, and Asian-inspired home accents
can be a complement to contemporary decor, Mr. Pfirsch added that he has carefully planned the asiannouveau. Pfirsch. Pfirsch's intention is to create a gateway for artists,
designers and craftsmen to showcase their creations free of charge, and to
give consumers a venue through which they can gain access to these designs via
a reliable and responsible e-commerce Website. for many home decor items, and
range as high as $4,000 for paintings by famous artists.

com. asiannouveau.com has partnered with the Bank of Asia,
accepts Visa and MasterCard. Comparable store sales for the quarter rose
19. In May, we will be launching a
new summer program including fresh interpretations of the Shoulder
Tote, a very successful shape from last year's spring collection.S. (EDT) today, April 26, 2005. by calling 1-800-223-8647 and through Coach's
website at www.

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asiannouveau.com Launches First-Of-Its-Kind Online Gallery Featuring a Distinctive Collection of Unique Contemporary Asian Paintings and Stylish Home Decor Acc

com showcases the latest creations from Asian contemporary
artists and designers. Using asiannouveau.
"The asiannouveau. We
anticipate that we will expand the number of items available on the Website by
as much as 200 percent within the next year."
"Our results in Japan were also excellent, as our market share
continues to grow rapidly."
Mr.23 for the fourth quarter, up 35% from the $0.15 $0.

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com
asiannouveau . These results were ahead of the analysts' recently revised
consensus estimate of $0.

Indirect sales rose 36% to $207 million from $153 million in
the same period last year. Last month , we also introduced a significantly expanded
and updated Hamptons Weekend collection, including new handbag styles
and the whimsical Scribble print, which was instantly successful.97 or up 43% from
last year, compared with analysts' current consensus estimate of
$0. Future results may differ materially from
management's current expectations, based upon risks and uncertainties
such as expected economic trends, the ability to anticipate consumer
preferences, the ability to control costs, etc.

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com, a
first-of-its-kind Website offering a distinctive collection of authentic
contemporary Asian art and distinctive Asian decor, today launched world-wide
sales."
asiannouveau. Pfirsch .
He also found that his marketing expertise filled an important role in helping
Asian artists , designers and craftsmen.com is the only online gallery to offer a broad array of
contemporary Asian art creations -- a "fusion" of contemporary Asian art and
imagery. The online
price listed for each item includes shipping and insurance, a feature unique
to asiannouveau. Coach stores, increased 30% to $209 million from $160
million last year., bringing the
total to 19 new retail stores in fiscal 2005. 123R), which is
currently expected to be required in the first quarter of fiscal year
2006. Please refer to
Coach's latest Annual Report on Form 10-K for a complete list of risk
factors.
-----------
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
-------------------------------------------
For the Quarters and Nine Months Ended
April 2, 2005 and March 27, 2004
--------------------------------------
(in thousands, except per share data)
-------------------------------------
(unaudited )
-----------

QUARTER ENDED NINE MONTHS ENDED
-------------------- ---------------------
April 2, March 27, April 2, March 27,
2005 2004 2005 2004
---------- --------- ------ ----- ---------

Net sales $415,939 $313,073 $1,291,763 $982,961

Cost of sales 91,266 75,556 305,948 252,392
--- ------- --------- ----------- ---------

Gross profit 324,673 237,517 985 ,815 730,569

Selling, general and
administrative expenses 178,842 136,648 505 ,414 397,371
---------- --------- ----------- ---------

Operating income 145,831 100,869 480,401 333,198

Interest income, net 4,945 768 10,924 1,639
---------- --------- ---------- - ---------

Income before income taxes
and minority interest 150,776 101,637 491,325 334,837

Income taxes 57,296 38,114 186,704 125,567

Minority interest, net of
tax 4,241 5,212 13,534 13,192
---------- --------- ----------- ---------

Net income $89,239 $58,311 $291,087 $196,078
========== ========= =========== =========

Net income per share
Basic $0.

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"asiannouveau. Pfirsch is providing
exposure and marketing opportunities that were previously unavailable to his
creative partners located throughout Southeast Asia.
Clearly, our accessible luxury proposition of product innovation,
relevance and exceptional value resonates with consumers across
multiple channels and geographies."
During the quarter, gross profit rose 37% to $325 million from
$238 million a year ago. Of special note, earlier this month, we
received a terrific reception at the opening of our newest Japanese
flagship, located in Nagoya.m.

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This substantial
increase in earnings from the prior year's third quarter reflected a
33% gain in net sales combined with operating margin improvement .S. Coach is sold worldwide through Coach stores,
select department stores and specialty stores, through the Coach
catalog in the U.

Items must be made and sold by a craft person and not commercial products .

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"
While there are Websites that feature Asian arts and crafts,
asiannouveau.
The prices of products start at $45 U.

Business Editors

NEW YORK----Coach, Inc.29
billion, up 31% from the $983 million reported in the first nine
months of fiscal 2004.coach.75 $0.

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"Creating asiannouveau. Pfirsch set out to offer a
collection that would appeal to consumers who are attracted to Asian decor, as
well as to home decor aficionados who may be looking for a contemporary
creation that is original and tasteful.
With more than 350 items currently available on the Website, Mr.15 the
prior year.17
reported for the 14-week quarter in fiscal 2004 and above the
analysts' consensus estimate of $0.

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The works found on our online gallery offer
consumers a unique opportunity to find new, high quality inspirational
accents, rather than Asian 'commodity crafts ' that can be found in home decor
shops and boutiques, as well as some online sources."
Prior to launching asiannouveau.com as an online
gallery accessible to anyone with Internet access, Mr .S.
Mr. (NYSE:
COH), a leading marketer of modern classic American accessories, today
announced a 51% increase in earnings per diluted share to $0.23 compared with $0. SG+A expenses as a percentage of net sales declined
to 43. In addition,
our Optic Signature fabrication was introduced in yellow , pink and
green in several strong-selling Soho handbag styles, as well as in
footwear, scarves and hats. Already a success, Optic Signature will
also be our feature for Mother's Day.
Coming in June will be a new Vintage Signature Tie Dye and Patchwork
group, the latter a perennial favorite .S.

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He was convinced that many consumers may not have previously considered
experimenting with tasteful and distinctive Asian touches, but once exposed to
the idea, they would quickly see how the right Asian creations can enhance
almost any contemporary decor. This is one of the many value -added
benefits that we offer consumers who may be weary of the authenticity of the
art they are buying and they have our assurance that our prices are fair to
the artist and the consumer, alike . During his extensive travels throughout the region, he found that
discovering and promoting Asian artists and designers was a natural evolution
in his own personal appreciation for Asian arts, design and craft traditions. Pfirsch,
32, a French-born home decor connoisseur and expert on Asian art and culture. In
addition, the company announced the purchase of Sumitomo's 50%
interest in Coach Japan , Inc. Frankfort added, "Our exceptionally strong results this
quarter are a continuation of the trend we have seen over the last
several years.

COACH, INC.

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About http://www.com (asian nouveau ltd. This 7,800 square foot store is our
seventh flagship in Japan and our first in Nagoya."
During the third quarter of fiscal 2005, the company opened one
Coach retail store and closed one factory store, resulting in a total
of 186 retail stores and 80 factory stores at April 2, 2005. This month we launched a new line of
straw totes which were very well received by consumers.
This press release contains forward-looking statements based on
management 's current expectations.23 $0.

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com/cgi-bin/prnh/20050207/LAM067)
Originally with plans to launch in early January, the December 26
earthquake and tsunamis in Southeast Asia required the Website 's Founder and
Managing Director Damien Pfirsch to assess the impact the disaster may have
had on the stable of more than 50 artists represented on the Website, as well
as the company's operations . Pfirsch.) was founded by Damien Mr.

Coach Reports Third Quarter Earnings Per Share of $0.23; Up 51% and Ahead of Expectations; Raises Guidance for FY05; Announces Buyout of Coach Japan Joint Vent

Net
income rose 53% to $89 million from $58 million a year ago, and
earnings per share increased 51 % to $0. Further, our bottom-line
performance evidences our ability to drive continued gains in
profitability .
For the nine months ended April 2, 2005, net sales were $1.0 billion, and earnings
per share growth of at least 22% to least $1.
It should be noted that this guidance excludes the earnings impact
from the implementation of accounting for share-based payments
(Statement of Financial Accounting Standards No.24 $0.

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com we are launching today is just the beginning," said
Mr. Pfirsch's vision for asiannouveau.23 for
its third fiscal quarter ended April 2, 2005.
In the third quarter, net sales were $416 million, 33% higher than
the $313 million reported in the same period of the prior year.22 per share. Gross margin expanded by 220 basis points
from 75.
Third fiscal quarter sales results in each of Coach's primary
channels of distribution grew as follows:

Direct to consumer sales, which consist primarily of sales at
U.
Sales at Coach Japan increased by 35% in constant currency,
driven by new store openings, expansions and high-single-digit
sales gains in comparable retail locations.

This category will accept finished craft products only.

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Pfirsch.
Currently, visitors will find Abstract and figurative paintings by young,
emerging artists, as well as some of South East Asia's most famous artists.php to access the
complete media kit.
Lew Frankfort, Chairman and Chief Executive Officer of Coach,
Inc.S. Frankfort concluded , "Looking ahead, we've never felt more
positive about our prospects for growth, which rest on our distinctive
proposition, strong brand equities, and expanding market share.

Coach, with headquarters in New York, is a leading American
marketer of fine accessories and gifts for women and men, including
handbags, women's and men's small leathergoods, business cases,
weekend and travel accessories , footwear, watches, outerwear, sunwear,
and related accessories. These 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
comparable terms.

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We feel this is an important decision which will allow our
company, and our new customers, an opportunity to help those who are in need. The unique collection includes more than
350 creations, ranging from abstract and figurative paintings to colorful and
functional home decor creations and accents which will appeal to home decor
aficionados in the United States, Europe and around the world.com, Mr.
These results again demonstrate the vitality of the Coach brand.0% , a 60 basis point decrease from the 43.
"We're well positioned to sustain accelerated growth through the
rest of this quarter, as our business this month has continued strong
throughout all channels .77 $0.

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com buys directly from Asian
artists at more reasonable prices.
The Website also features contemporary Asian Decor items such as hand-made
pillow covers, throws, and rugs; contemporary lighting; and, distinctive and
colorful Asian dinnerware; functional, contemporary Asian Home Accents such as
vases, bowls, trays, decorative boxes, and stands; and Unique Asian-Inspired
Gifts such as handpainted silk scarves and shawls and exclusive gifts created
for men and women, alike.asiannouveau .com.

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com will
make a donation to the Thai Red Cross equal to five percent of our first
quarter sales.com
offering over the past few years -- a process that included identifying and
forging relationships with famous and emerging artists, and assembling a
collection of contemporary items from these individuals that would inspire
consumers who are looking for unique and affordable art , as well as design and
crafts to complement their individual and personal home environment.com is to introduce contemporary Asian
art creations and craftsmanship to art and design lovers throughout the world,
particularly in Europe and the United States where consumers are increasingly
open minded to adding a contemporary Asian "design flair" within the context
of traditional and contemporary Western decor tastes. For additional information, visit
http://www. Earnings per share numbers have
been adjusted for the two-for-one split, which was effected on April
4, 2005., said, "Our excellent third quarter sales reflect the
sustainability of our growth and the strength of our business model .
This season's colorful offerings, driven by handbags and women's
accessories, have drawn an enthusiastic response from consumers.22.

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com Moves Forward With International Marketing Launch Pledging to
Donate Five Percent of First Quarter Sales to the Thai Red Cross

BANGKOK, Thailand, asiannouveau ."
He added, "It is important to note, the design creations found on
asiannouveau. All purchases are
shipped within one to two business days by FedEx from Thailand.com/newsdesk_index.3%, with retail stores up 12. We also enjoyed an
amazing response to our charity concert in Tokyo earlier this month ,
broadening our consumer appeal.53
========== ========= =========== =========

Diluted $0.

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newscom.
"Contemporary Asian art is increasingly becoming trendy, and prices are
skyrocketing," said Mr. Mr. All indirect businesses, including
Coach Japan, U. department stores, international wholesale
and special markets, contributed to this significant increase. Our business has been fueled by product innovation -
punctuated by monthly flow.95.coach.

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After an Initial Delay Due to the Devastating Earthquake and Tsunamis,
asiannouveau .
(Photo: http://www.S. and Europe.asiannouveau.

We're
particularly pleased with the ongoing strength of the Soho and
Hamptons handbag collections across multiple fabrications and new
silhouettes. Through
Coach Japan, one location was added, while as expected, three small
shop -in-shops were closed.7 billion for the
full fiscal year ending July 2, 2005, an increase of about 29% from
prior year, and earnings per share of at least $0. This reflects sales of at least $415 million and earnings per
share of at least $0.
Coach will host a conference call to review these results at 8:30
a.

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The unique online gallery offers consumers inspirational home decor
ideas and stylish accents created by famous and emerging artists, designers
and creators of crafts located throughout Thailand and neighboring Asian
countries.
Mr.com are of a quality and uniqueness that would be difficult to
find in the U.9% to 78.1%, driven by channel mix, product mix and sourcing
cost initiatives.9% and factory store sales up
28.5%. Interested parties may listen to the
webcast by accessing www. A telephone replay
will be available starting at 12:00 noon today , for a period of five
business days. A webcast replay
of the earnings conference call will also be available for five
business days on the Coach website.

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In fact, while consumers have always seen
Coach as a leading handbag and accessory resource, increasingly many
of our customers come to Coach as a resource for the newest styles,
similar to the way they seek out the latest innovations in technology.com/investors on the Internet or
dialing into 1-888-405-2080 and asking for the Coach earnings call led
by Andrea Shaw Resnick, VP of Investor Relations.

This category contains same restrictions as explained under Shopping/Crafts category description.

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Although portions of Thailand's coastal tourist
areas were devastated by the disaster, the company, and its artists were not
directly impacted, allowing for today's launch.
"At the same time, we are deeply saddened by the devastation and loss of
life," commented Mr. "I want
to give consumers a unique opportunity to peruse contemporary and distinctive
home accents directly from Asia, and to make these creations available to
discerning consumers through a convenient and reliable online gallery. Pfirsch
envisions the online gallery will be dynamic and constantly evolving with new
artists and their works being added on a continuous basis. The
purchase is expected to close at the end of the current fiscal year
and be accretive to earnings in FY06.6% reported in the
year-ago quarter, primarily due to leveraging the higher sales . Net income rose to $291 million, up 49% from
the $196 million reported a year ago."
The company now estimates 2005 sales of over $1. The number to call is 1-866-352-7723.16 $0.