Tapestry said its Coach brand led sales growth for another quarter, while giving a soft outlook for its new fiscal year.

The parent company of Coach and Kate Spade on Thursday posted a profit of $347.8 million, or $1.68 a share, compared with a loss of $517.1 million, or $2.49 a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were $1.32, ahead of the $1.28 anticipated by analysts, according to FactSet.

Revenue in the fiscal fourth quarter rose 9% to $1.88 billion. Analysts surveyed by FactSet forecast revenue of $1.87 billion.

Tapestry also shared guidance for its new fiscal year, with midpoints below Wall Street projections.

The company expects to generate $8.4 billion to $8.5 billion in sales during the new year, compared with analysts' forecast of $8.47 billion. It anticipates $7.80 to $7.90 in earnings per share, while analysts were looking for $7.87 a share.

Shares slid 9% to $140 in premarket trading.

For another quarter, Coach drove sales growth single-handedly, offsetting a decline in the Kate Spade brand. Coach sales increased 15% to $1.64 billion, while Kate Spade revenue fell 7% to $235.1 million.

The North America business, which is Tapestry's biggest, saw sales rise 7% in the quarter. Internationally, revenue was up by 33% in Greater China and 22% in Europe, while Japanese sales fell 11%.

Coach has run a successful campaign in recent years to boost consumer sentiment for its Coach brand, gaining viral success for the Brooklyn Bag and other handbags.

Tapestry said its handbag revenue growth in Coach helped drive average unit revenue up by a mid-teens percentage rate in both the quarter and the full year.

During the current first quarter, Tapestry expects $1.55 in earnings per share, ahead of the $1.49 a share analysts are anticipating.

The company said its board approved a 16% increase to its quarterly dividend at 46.25 cents a share and expects to buy back $1.35 billion in shares this fiscal year under its existing share repurchase authorization.