The momentum at Coach Inc. continued in the fourth quarter, as the company reported healthy same-store sales growth at its North American stores and better-than-expected earnings.
The luxury handbag and accessories retailer also said it plans to reduce its presence in the wholesale channel (which for Coach is mostly department stores), where its sales continue to fall. Coach sales at North American department stores in the fourth quarter declined at a mid-teens rate versus prior year on a 13-week basis, while net sales into department stores declined high single digits.. . . more