Coach's North American Sales Were Just Awful

Shares of Coach are crumbling.

The stock is down by over 6%.

Earlier today, the company announced fiscal Q2 earnings of $US1.06 per share, missing expectations for $US1.11.

Comparable store sales in North America collapse 13.6%. Analysts were looking for a 6.8% decline.

“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. “At the same time, China results remained resilient with total sales growing about 25% and comparable store sales rising at a double digit rate.”

Net sales for the company fell 6% year-over-year to $US1.42 billion.

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