Coach Sales In North America Plummet As Market Share Erodes

Designer Tiffany Lerman Launches Pattern LA, A New Collection of Handbags and Totes

Coach’s overall revenue fell 5.6 percent to $1.42 billion, in the second quarter, while net income dropped to $297.4 million, or $1.06 per share, from $352.8 million, or $1.23 per share, a year earlier. Analysts on average had expected earnings of $1.11 per share on revenue of $1.48 billion, according to Thomson Reuters I/B/E/S. REBALANCING ACT To win back shoppers, the 73-year-old company is trying to offer more footwear and fashion to become a lifestyle brand. Coach will be presenting a collection at New York Fashion Week next month for the first time. Chief Executive Victor Luis, who took the reins this month from longtime CEO Lew Frankfort, told Reuters that Coach is “rebalancing” its merchandise selection and increasing its offerings of handbags priced $400 or more. After the 2008-09 recession, Coach had ramped up its selection of lower-price handbags.
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People walk past a Coach store on Madison Avenue in New York, in this January 23, 2013 file photo. REUTERS/Carlo Allegri/Files

Retail price $52 The TT Tote Bagis fully lined and constructed of cotton canvas featuring real leather details and colorful patterns that strike the perfect balance of sophistication and sass. This roomy tote offers ample space for laptops, tablets and everyday must-haves, an exterior pocket perfect for stashing cash or cell phone and an interior pocket for easy access to smaller items, plus an extra detachable pocket with wrist strap that easily unhooks to take necessities on-the-go. Available in Grey Ottie, Emerald Anemone, Pink Seaflower and Orange Camelia patterns. Retail price $56for small and$62 for large The Indy Bag is made in the USA of the softest brushed cotton twill. This classic and roomy bag is just perfect for the beach, dance classes, overnights and so much more. Available with personalization, this bag also features a top snap closure, one inside zippered pocket and a divided inside pocket that’s just the right size for your cell phone and sunglasses. Available in Green Ottie, Navy Ottie, Pink Ottie, Purple Ottie and Black & White Ottie patterns. Retail price $48for small and$52 for large The Dilly Bagis a mid-size crossbody bag made of durable laminated cottonand sturdy cotton webbing straps withmultiple interior and exterior pockets, a contrasting interior lining andgunmetal hardware accents. Double handles offer comfort while theslightly-structured silhouette and chic patterns makeDilly ideal for everyday use.
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