Coach Q2 income, sales down

New York -- Coach Inc.'s net income dropped to $297.4 million in the second quarter, from $352.8 million a year earlier sales in North America fell sharply during the key holiday season.

Overall revenue for the three months ended Dec. 28 fell 5.6% to $1.42 billion, with a 13.6% decrease in comparable-store sales in North America.

“We continued to be disappointed by our performance in North America, which was impacted by substantially lower traffic in our stores and by our decision to limit access to our e-factory flash sales site," said CEO Victor Luis, who succeeded Lew Franfort this month as planned.

Coach has been under increased competition by such rival brands as Michael Kors Holdings, Kate Spade and Tory Burch.


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