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Coach 2nd Quarter Miss

Coach Inc. ,the luxury handbag maker, reported Q2 that missed expectation. The stock slump over 7% after the market opens today.

Sale in North America dropped 9% which is the third straight quarter of decline. Coach has lost market share for Michael Kor, Tory Burch and Kate Spade.
Coach is trying to expand more footwear line but the products that create by new creative director Stuart Vevers will not be available in a few months.
However, sale in China increase about 25%. Victor Luis Coach's CEO is excited with company future results and highlight that Coach will be presenting a collection at New York Fashion Week next month for the first time.