29 Apr '15, 12am

Business Briefing: Falling Sales Undercut Turnaround Effort at Coach: The handbag and accessories maker report...

Coach, a handbag and accessories maker, reported its worst sales decline in seven quarters in North America, raising concerns that the company’s turnaround efforts were failing to gain traction. Coach said it expected current-quarter sales to decline “at similar levels.” Same-store sales in North America, the company’s biggest market, fell 23 percent. Net sales fell 15.5 percent to $929.3 million. Coach’s net income fell by more than half, to $88.1 million, or 32 cents a share. Excluding items, the company earned 36 cents a share. Analysts on average had expected earnings of 35 cents a share and revenue of $949.9 million, according to Thomson Reuters I/B/E/S. Coach shares were down 6.3 percent to $39.65.

Full article: http://www.nytimes.com/2015/04/29/business/falling-sales-...

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