We’ve said it before, we’ll say it again — if it’s earnings day for Coach (COH), you can just about bank on a big move in the stock. The chart here shows the single-day price change following every earnings report back to the first quarter of 2009 and ends with today’s trading result (so far).
At the moment, the drop is 6.8%, putting it right in line with the average 6.9% pullback the shares have seen on post-earnings down days in the last five years. Of the 21 quarters represented in the chart, 13 are declines, and the remaining eight are increases. Though fewer in number, the positive days have seen even more pronounced percentage changes, as the average advance has been 7.5%. All data are from FactSet.
The latest move came after Wall Street showed its displeasure with Coach’s first-quarter results, which included a slight shortfall on the revenue line. The total of $1.15 billion was a bit below the $1.19 billion consensus estimate.