TPR Tapestry Inc

   DOW JONES NEWSWIRES 
 

Coach Inc.'s (COH) chief financial officer plans to retire but will stay on the job until August while the company searches for his successor.

Michael F. Devine III has worked at the upscale accessories maker for almost 10 years.

Coach posted a much better-than-expected second-quarter profit last month on continued strong sales, but the company's shares dropped on fears of excess inventory.

Shares closed at $54.12 Thursday and were inactive premarket. The stock has gained 48% over the past 12 months.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com