28 Apr '15, 12pm

UPDATE 1-Weak North America sales weigh on handbag maker Coach

UPDATE 1-Weak North America sales weigh on handbag maker Coach

* Q3 North America sales down 24 pct at $493 mln * Sees Q4 sales falling at same levels as Q3 * Difficult for Coach to turn around business - analyst * Shares down as much as 8.8 pct (Adds analysts comments, forecast; updates shares) By Yashaswini Swamynathan April 28 (Reuters) - Coach Inc reported its worst decline in sales in seven quarters in North America, raising concerns that the handbag and accessories maker's turnaround efforts were failing to gain traction in a highly competitive market. Shares of the company, which also said it expects current-quarter sales to decline "at similar levels" as the third quarter, fell as much as 8.8 percent on Tuesday. "It will be difficult for Coach to execute its transformation strategy, and the stock is not likely to work during this time," Wells Fargo analyst Paul Lejuez wrote in a note. The maker of Poppy handbags has been losin...

Full article: http://www.reuters.com/article/2015/04/28/coach-results-i...

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