Sales declined in Q4 by 1% year-over-year to $778 million, driven by same-store sales dips that were partly offset by a 3% gain in direct-to-consumer business. The quarterly results compared favorably to the $740-million tally of Q3. Net sales for fiscal 2009 were up 2% over the previous year to $3.23 billion, while net income for the year totaled $622 million, compared to an FY 2008 total of $742 million.

Frankfort said in Tuesday's conference call that the year's results demonstrated the "resiliency" of the Coach model "even in the midst of an extraordinary, challenging environment." A big plus was the company's penetration into the Chinese market, where it opened 28 stores in fiscal '09.

New Coach store openings will pepper FY10, but fewer than in the year prior. The company plans 29 new US and Canada locations in the coming year, including 14 in entirely new markets and about a half-dozen factory outlets. That compares with 42 North American openings in FY09.