Coach profits drive up in China
<p><span word="Download">Download</span></p><p><span word="Coach">Coach</span> <span word="Inc">Inc</span>, <span word="the">the</span> <span word="New">New</span> <span word="York">York</span>-<span word="based">based</span> <span word="fashion">fashion</span> <span word="brand">brand</span>, <span word="experienced">experienced</span> <span word="a">a</span> 25 <span word="percent">percent</span> <span word="year">year</span>-<span word="on">on</span>-<span word="year">year</span> <span word="sales">sales</span> <span word="growth">growth</span> <span word="in">in</span> <span word="China">China</span> <span word="in">in</span> <span word="the">the</span> <span word="quarter">quarter</span> <span word="that">that</span> <span word="ended">ended</span> <span word="on">on</span> <span word="Dec">Dec</span> 28, <span word="while">while</span> <span word="its">its</span> <span word="sales">sales</span> <span word="in">in</span> <span word="North">North</span> <span word="America">America</span> <span word="decreased">decreased</span> <span word="by">by</span> 9 <span word="percent">percent</span>.</p><p><span word="The">The</span> <span word="brand">brand</span>'<span word="s">s</span> <span word="total">total</span> <span word="sales">sales</span> <span word="were">were</span> $1.42 <span word="billion">billion</span> <span word="for">for</span> <span word="the">the</span> <span word="second">second</span> <span word="fiscal">fiscal</span> <span word="quarter">quarter</span> <span word="of">of</span> 2013, <span word="a">a</span> 6 <span word="percent">percent</span> <span word="decrease">decrease</span> <span word="from">from</span> <span word="the">the</span> <span word="same">same</span> <span word="period">period</span> <span word="in">in</span> 2017, <span word="according">according</span> <span word="to">to</span> <span word="Coach">Coach</span>'<span word="s">s</span> <span word="earning">earning</span> <span word="reports">reports</span> <span word="released">released</span> <span word="on">on</span> <span word="Wednesday">Wednesday</span>.</p><p><span word="For">For</span> <span word="the">the</span> <span word="six">six</span> <span word="months">months</span> <span word="that">that</span> <span word="ended">ended</span> <span word="on">on</span> <span word="Dec">Dec</span> 28, <span word="Coach">Coach</span>'<span word="s">s</span> <span word="net">net</span> <span word="sales">sales</span> <span word="were">were</span> $2.57 <span word="billion">billion</span>, 4 <span word="percent">percent</span> <span word="down">down</span> <span word="from">from</span> <span word="the">the</span> <span word="first">first</span> <span word="six">six</span> <span word="months">months</span> <span word="of">of</span> <span word="fiscal">fiscal</span> 2013, <span word="according">according</span> <span word="to">to</span> <span word="the">the</span> <span word="report">report</span>.</p><p><span word="The">The</span> <span word="sales">sales</span> <span word="drop">drop</span> <span word="was">was</span> <span word="attributed">attributed</span> <span word="to">to</span> <span word="weakness">weakness</span> <span word="in">in</span> <span word="the">the</span> <span word="North">North</span> <span word="American">American</span> <span word="market">market</span>.</p><p>"<span word="We">We</span> <span word="continue">continue</span> <span word="to">to</span> <span word="be">be</span> <span word="disappointed">disappointed</span> <span word="by">by</span> <span word="our">our</span> <span word="performance">performance</span> <span word="in">in</span> <span word="North">North</span> <span word="America">America</span>, <span word="which">which</span> <span word="was">was</span> <span word="affected">affected</span> <span word="by">by</span> <span word="substantially">substantially</span> <span word="lower">lower</span> <span word="traffic">traffic</span> <span word="in">in</span> <span word="our">our</span> <span word="stores">stores</span> <span word="and">and</span> <span word="by">by</span> <span word="our">our</span> <span word="decision">decision</span> <span word="to">to</span> <span word="limit">limit</span> <span word="access">access</span> <span word="to">to</span> <span word="our">our</span> <span word="e">e</span>-<span word="factory">factory</span> <span word="flash">flash</span> <span word="sales">sales</span> <span word="site">site</span>," <span word="said">said</span> <span word="Victor">Victor</span> <span word="Luis">Luis</span>, <span word="chief">chief</span> <span word="executive">executive</span> <span word="of">of</span> <span word="Coach">Coach</span>.</p><p><span word="But">But</span> <span word="the">the</span> <span word="China">China</span> <span word="market">market</span>'<span word="s">s</span> <span word="result">result</span> <span word="is">is</span> <span word="considered">considered</span> <span word="satisfying">satisfying</span> <span word="because">because</span> <span word="comparable">comparable</span> <span word="store">store</span> <span word="sales">sales</span> <span word="rose">rose</span> <span word="at">at</span> <span word="a">a</span> <span word="double">double</span>-<span word="digit">digit</span> <span word="rate">rate</span> <span word="during">during</span> <span word="the">the</span> <span word="period">period</span>, <span word="Luis">Luis</span> <span word="said">said</span>.</p><p><span word="The">The</span> <span word="company">company</span> <span word="set">set</span> <span word="an">an</span> <span word="annual">annual</span> <span word="guidance">guidance</span> <span word="of">of</span> $530 <span word="million">million</span> <span word="sales">sales</span> <span word="in">in</span> <span word="China">China</span> <span word="for">for</span> <span word="the">the</span> <span word="whole">whole</span> <span word="fiscal">fiscal</span> <span word="year">year</span> <span word="of">of</span> 2013. <span word="Business">Business</span> <span word="looked">looked</span> <span word="to">to</span> <span word="be">be</span> <span word="on">on</span> <span word="track">track</span> <span word="to">to</span> <span word="meet">meet</span> <span word="that">that</span> <span word="target">target</span>, <span word="it">it</span> <span word="said">said</span> <span word="in">in</span> <span word="the">the</span> <span word="announcement">announcement</span>.</p><p><span word="China">China</span>'<span word="s">s</span> <span word="sales">sales</span> <span word="growth">growth</span> <span word="in">in</span> <span word="the">the</span> <span word="second">second</span> <span word="fiscal">fiscal</span> <span word="quarter">quarter</span> <span word="of">of</span> 2013 <span word="also">also</span> <span word="pushed">pushed</span> <span word="its">its</span> <span word="international">international</span> <span word="sales">sales</span> <span word="up">up</span> 2 <span word="percent">percent</span>, <span word="to">to</span> $425 <span word="million">million</span>.</p><p><span word="As">As</span> <span word="an">an</span> <span word="affordable">affordable</span> <span word="fashion">fashion</span> <span word="brand">brand</span>, <span word="Coach">Coach</span> <span word="is">is</span> <span word="popular">popular</span> <span word="among">among</span> <span word="Chinese">Chinese</span> <span word="luxury">luxury</span> <span word="customers">customers</span>, <span word="who">who</span> <span word="contributed">contributed</span> <span word="to">to</span> <span word="the">the</span> <span word="brand">brand</span>'<span word="s">s</span> <span word="sales">sales</span> <span word="growth">growth</span>, <span word="some">some</span> <span word="experts">experts</span> <span word="said">said</span>.</p>
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